IMF’s Georgieva Urges Zambia’s Bondholders to Approve Revamp

Zambia’s international bondholders should quickly complete the restructuring of the notes after the government announced the start of the process, International Monetary Fund Managing Director Kristalina Georgieva said.

The government of Africa’s first pandemic-era sovereign defaulter will meet eurobond investors June 4 to ask them to approve exchanging what’s grown to almost $3.9 billion of debt for new instruments. That forms part of broader efforts to rework more than $13 billion of loans under the Group of 20’s Common Framework mechanism.