ABSA ZAMBIA CEO MIZINGA MELU CONGRATULATES GOVT FOR $3.5 BILLION DEBT RESTRUCTURING AGREEMENT.
Debt Restructuring: Some Key Facts!
A huge congratulations to the Zambian Govt for reaching an agreement to restructure US$3.5 billion of Eurobonds with the bondholders. This is fantastic news as it finally paves the way for Zambia’s external debt restructuring. We look forward to the economic developments that will follow this milestone achievement.
Key facts:
External debt repayments will commence but at a reduced and sustainable level.
Zambia’s credit rating is expected to upgrade from the default status
Credit to businesses will be enhanced
Interest rates are likely to reduce gradually
Long term investment into Zambia (FDI) is expected to resume
Access to international capital markets will be restored for the country
The Iron lady. Great brain.