ZAMBIA SKIPS EUROBOND INTEREST PAYMENT AGAIN
The Zambian Government has remained tight-lipped on the failed payment of $56.1 million Eurobond coupon
interest payment which was due on January 30 2021.
This follows Zambia’s failed interest payment of $42.5 million Eurobond coupon in November 2020.
An inquiry with Ministry of Finance officials attracted a notion quotation response.
In October 2020, however, Finance Minister Bwalya Ng’andu informed creditors that Zambia will not be able to meet its financial obligations unless bondholders agreed to grant Zambia six months relief period to work on a debt restructuring plan.
Dr Ng’andu informed creditors that Zambia can only start making payments in April.
On 11th February, 2021, Zambia is engaging the International Monetary Fund for a relief package.-Diamond TV Zambia