Zambia Gets Lifeline With Time Running Out to Avoid Default
- Bondholder group signals willingness to contribute to relief
- More transparency needed on Chinese debt and IMF, says APG
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Zambia’s entered extra time in its bid to win debt relief from its Eurobond holders.
A key group of investors representing 40% of the Eurobonds on Tuesday abstained from voting rather than outright rejecting the southern African nation’s debt-standstill proposal, according to a person familiar with the situation who asked not to be named because the matter is sensitive.