Zambia defaults on second Eurobond payment

Zambia defaults on second Eurobond payment

 

It is the second default

Lusaka — Zambia skipped a $56.1m coupon payment on January 30 on its Eurobond maturing in 2027, the finance ministry confirmed on Sunday.

Zambia became Africa’s first pandemic-era sovereign to default after it missed a $42.5m Eurobond coupon payment in November.

Zambia warned in October that it wouldn’t be able to meet obligations on foreign commercial debt unless creditors provided it with relief while the government worked to restructure its loans.

Bloomberg

Share this post