Zambian Eurobonds Jump Most in 17 Months as Lungu Concedes Polls
- Hichilema wins election by biggest margin in a quarter century
- New leader’s priorities include debt restructuring, IMF deal
Supporters of Hakainde Hichilema parade in front of his residence celebrating in Lusaka on Aug. 15.
Photographer: Marco Longari/AFP/Getty Images
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Zambia’s Eurobonds and currency rallied after opposition leader Hakainde Hichilema scored a shock landslide victory in the nation’s presidential election.
Hichilema beat incumbent President Edgar Lungu by almost 1 million votes and nearly 60% support, the biggest margin of victory in a quarter century and an even better performance than his party projected. Lungu conceded defeat early on Monday afternoon.