Economics

Bondholders Facing Zambia Haircut Cast Wary Eyes Over Africa

Eurobond holders face “large losses” in Zambia, Moody’s says
Other African countries may soon be in same boat after Covid

Zambia's Finance Minister on Debt, FX Reserves, Mining Opportunities

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By Matthew Hill and Taonga Mitimingi

September 26, 2020 at 6:00 AM UTC

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Bondholders are facing “significant losses” as Zambia battles to bring its debt under control, according to Moody’s Investors Service. They’re now asking: who’s next?