Zambia starts registering foreign creditors

Zambia starts registering foreign creditors

Zambia has kicked off the process of registering its Eurobond creditors, according to Reuters news agency.

Zambia owes money to four main types of creditor. It has $3 billion of Eurobonds outstanding and owes $2 billion to commercial banks, $2 billion to the International Monetary Fund and World Bank and another $3 billion to China.

Zambia’s Finance Ministry said in an authorisation letter that its financial adviser Lazard had appointed Morrow Sodali to gather information on the holders of its three outstanding Eurobonds and “facilitate communications”.

In May, Zambia’s government appointed debt specialists Lazard to advise on how to overhauls its foreign-currency debt.

 

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    Daniel 2 weeks ago

    What is the significance of such a thing for it to deserve publicity? I am sorry I am not an economist. Does it mean that Zambia did not know its lenders and now its trying to know them? Does this registration mean now the government is preparing vouchers to pay them? What is the excitement all about? Or are we just being naïve and falling prey to PF propaganda?