We've seen a record number of sovereign defaults on bonded (external) debt this year according to our records, at least in terms of recent history, although it was becoming obvious we were heading for a record even by the middle of the year. Second,...

By the close of business today Zambia could become the fifth country globally and first in sub-Saharan Africa to default since Covid began. In addition, the government budgeted for eurobond payments in 2021 in case the standstill is rejected, creatin...

The extraordinary G20 finance ministers and central bank governors (FMCBG) meeting today, ahead of the Leaders’ Summit (21-22 November), is due to publish the Common Framework for dealing with bilateral debt and also discuss outstanding issues relate...

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...