The Ministry of Finance said in a press release today (here) that “Should Zambia fail to reach an agreement with its commercial creditors (including holders of its Eurobonds) on the terms of the appropriate standstills, as previously stated, the Repu...

On Wednesday, the government published a document addressing the questions posed during its virtual investor presentation on 29 September (see here for all relevant documents and here for our initial take). However, guidance on progress towards a pro...

Mozambique became the 32nd country to be accepted by the Paris Club for bilateral debt service relief under the G20's Debt Service Suspension Initiative (DSSI) yesterday. We observe the vast majority of the 32 countries now approved for debt service...

Zambia’s Ministry of Finance, and its advisers (White & Case and Lazard), held an investor presentation earlier today via webcast following last Tuesday’s consent solicitation (see here). The government has also asked that accumulated arrears be incl...

Zambia announced a consent solicitation today, seeking approval to defer interest payments on its three outstanding eurobonds from 14 October 2020 until 14 April 2021. Prior to agreeing on a comprehensive debt restructuring in July and a US$6.5bn 27-...

The investment to realise that manufacturing potential is likely driven by serving local and nearby regional markets in contrast to North Africa (EU exports) or South East Asia (global exports and China relocation). Our relative scorecard uses the sa...