Zambia Heads to Showdown With Bondholders – Bloomberg

Photographer: Gianluigi Guercia/AFP via Getty Images

The clock is ticking for Zambia to convince reluctant bondholders to accept an interest-payment holiday while it works out a debt-restructuring strategy.

If investors refuse Zambia’s request for a six-month standstill in a key vote on Tuesday, it may become the first African nation to default since the onset of the coronavirus. That could set a precedent for how cash-strapped governments treat private and Chinese creditors.

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