Zambia Bonds Gain as Moody’s Sees Debt Talks Unlocking Growth
- Dollar debt extends price rally to highest since May 2022
- Moody’s says deal will be a catalyst for economic reforms
Lusaka, Zambia.
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Zambia’s dollar bonds strengthened as the country worked to finalize a long-delayed debt restructuring, with Moody’s Investors Service saying a deal would be a catalyst for broader economic reforms.
The price of Zambia’s debt due 2027 gained for a sixth day to the highest since May 2022, rising 0.1 cents on the dollar to 72.637 cents at 12:09 p.m. in London on Monday. Parties to negotiations that started last week expect to conclude a deal for $3 billion of global bonds within days, people familiar with the matter said at the time.