Bwalya Ngandu

 

Holders of Zambia’s three Eurobonds amounting to 3 billion dollars have rejected Zambia’s request for suspension of interest payments for six months.

The decision to decline Zambia’s request is based on alleged absence of clarity on some issues bordering on rising debt, transparency and fair treatment among creditor classes.

The bondholders have further observed that Finance Minister Dr Bwalya Ng’andu’s proposed 2021 national budget deviates Zambia from the path of debt sustainability.

This is according to statement issued by Newstate Partners who have been appointed as financial advisors by bond holders.

The bondholders’ committee consists of 14 international financial institutions based in the US and Europe and holds approximately 40 percent of Zambia’s outstanding Eurobonds.

Zambia has an external debt of US$ 11.9 billion and has hired Lazard Freres as advisors to restructure the external loan.

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8 COMMENTS

  1. Well done Bondholders; you have donecthe right. We a Govt of thieves in Zambia. The relief on the interest would have been stolen anyway. It is a country where 48 houses can build themselves. That is how foolish Lungu and his minions can be. Lungu is not serious and is not only a crook but an ex convict.
    What you have done is a favour to Zambians who will bear the burden of the cost of the suspension. The thief with big teeth is a terrible illegal leader. Dont ever listen to him, he is never serious.

  2. WONDERFUL JOB DONE BY EUROBOND HOLDERS BY REFUSING TO GIVE A REFUND RELIEF TO PF. THAT MONEY WAS GOING TO BE MISUSED BY PF SUCH AS BUYING ARMERED MACHINES TO KILL ZAMBIANS AND FUNDING TERROLISTS TO KILL ZAMBIANS. PF ARE BEYOND CRIMINALS, THEY ARE DEVILS.

  3. Plans for PF to have a competitive advantage in the 2021 elections are falling apart. This was aimed at freeing funds for the 2021 elections but has collapsed. On the other hand, the dead Bill 10 is another thorn in their flesh. 2021 au reviour PF.

  4. PF has kokolochi courage indeed. Can you tell your Shylock to forget about their money in public and get away with it? There are consequences! This is another twist in Zambia’s precarious debt default consequences. Expect another downgrade in our Credit rating of Default! Bondholders now want to know how they will get their money back. Without a good explanation from PF, they will start legal action against Zambia. This marks the beginning of The Scramble for Zambian assets. If they don’t find enough assets, they will come after every Zambian! The only solution here to give ourselves a new start is to change ubuteko! Otherwise PF has no clue how to get our country out of this mess they put us in.

  5. Oh dear. This will hurt. Government needs to tell us what questions the bondholders are asking. They just have to come clean. There should be certain conduct which they’re not happy with. Is it buying of opposition councillors, lavish by-elections spending?

  6. THIS IS ONE OF THE ANSWERS GOD IS ANSWERING TO HIS SLAVED CHILDREN OF ZAMBIA. LUNGU, PF MEMBERS AND SUPPORTERS ARE BRUTALIZING UPND MEMBERS AND SUPPORTERS EVERYDAY. ZAMBIA AS A COUNTRY IS VERY POOR BUT PF ARE VERY RICH. PF HAS GARBED PRIVATE COMPANIES AND STILL WANT TO GRAB MORE COMPANIES SO THAT THEY BECOME MORE RICH BUT ZAMBIANS LIFT SUFFERING. GOD WE STILL ASK YOU TO DO MORE GOOD THINGS TO US OPPRESSED ZAMBIAN CITIZENS. AMEN.

  7. Comment:we are in a mess.The pf caders to them the gvt has delivered on all its promises.Also with nationalisation of privitation assets which was approved by imf,world bank etc. and assets which were working well before pf 2011 more problems coming our way and moving towards zimbwabwe

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