Saturday, May 28, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Finance

Zambia ‘doing everything possible’ to avoid looming default – finance minister

by SAT Reporter
November 11, 2020
in Finance, in Southern Africa, Just In, Zambia
0
Zambia ‘doing everything possible’ to avoid looming default – finance minister
0
VIEWS

(The Southern African Times) – Zambia is doing everything possible to avoid a sovereign debt default later this week, including sharing information on its Chinese debt with holders of its dollar-denominated bonds, its finance minister told Reuters on Monday. 

Sources close to the main committee of bondholders, however, said little progress had been made in debt talks.

Even before the coronavirus pandemic caused a global economic slowdown, Zambia was struggling with mounting debt due to low prices for copper, its main export.

It has three outstanding dollar-denominated Eurobonds with a total face value of $3 billion. 

It missed payment of a $42.5 million coupon on one of its Eurobonds last month and has asked creditors to delay interest payments until April, a request that has so far failed to receive support from bondholders. 

A 30-day “grace period” on the coupon payment expires on Friday.

“We’ll wait and see. We’re doing everything possible,” Finance Minister Bwalya Ng’andu told SAT by ‘phone. “The discussions (with bondholders) are on a continuous basis.” 

When asked whether Zambia had the resources to pay the coupon within the grace period, he said his country had committed to treating all its creditors the same.

Previous Post

Zimbabwe veg Producer taps Renewables start-up for solar power backup

Next Post

Zimbabwean President shocked over attacks in Mozambique, pledges support

SAT Reporter

Related Posts

Nigeria, Ethiopia to Hold Bilateral Talks on Trade, Economy, Politics
Politics

Nigeria, Ethiopia to Hold Bilateral Talks on Trade, Economy, Politics

by SAT Reporter
May 26, 2022
Glencore fined 1.1 billion for bribing Public  Officials for Crude Oil Contracts
Business

Glencore fined 1.1 billion for bribing Public Officials for Crude Oil Contracts

by SAT Reporter
May 26, 2022
Somali foreign minister Abdisaid Muse suspended for alleged abuse of office

Somali foreign minister Abdisaid Muse suspended for alleged abuse of office

by SAT Reporter
May 26, 2022
Africans mark “Africa Day” with a call for urgent major continental development
International news

Africans mark “Africa Day” with a call for urgent major continental development

by SAT Reporter
May 25, 2022
Zimbabwe anti-sanctions lobby seek support from U.S. black congressional members
ZIMBABWE

Zimbabwe anti-sanctions lobby seek support from U.S. black congressional members

by SAT Reporter
May 25, 2022
Next Post
Zimbabwean President shocked over attacks in Mozambique, pledges support

Zimbabwean President shocked over attacks in Mozambique, pledges support

Premium Content

Solarise Africa secures US$10 million investment to fund expansion plans

Solarise Africa secures US$10 million investment to fund expansion plans

October 12, 2020
Zimbabwe’s national airline resumes flights as skies re-open for international travel

Zimbabwe’s national airline resumes flights as skies re-open for international travel

September 17, 2020
Rwanda Central Bank tightens banking regulations

Rwanda Central Bank tightens banking regulations

February 22, 2021

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • BOTSWANA
  • Botswana
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

African business news Africa New Africa News african footballer African investments African news African start-up Business Classic Climate change Content coronavirus Cyclone Idai Egypt Explore Bali Finance Foods football Health Hopewell Mauwa Life Style mali news Market Stories news Odion Ighalo Oilandgas Opinion Pandemic Politics Premium reserve bank of Zambia Russia soccer South Africa Southern African News sports Stay Home United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn Zimbabwe job creation

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?