Thu, 06 Apr 2017 10:09:50 +0000 BY MAILESI BANDA ZAMBIA is most likely to default on the first US $750 million Eurobond payment when maturity date falls in the next five years, former Bank of Zambia governor Caleb Fundanga has said. The former Bank of Zambia governor said the country would not be in a position to redeem the first Eurobond when it falls due in 2022. Speaking during a presentation at the Economic Association of Zambia public hearing on public debt trends in Zambia last Friday, he said the whole borrowed amount would have to be returned to the lenders in five years plus interest payments due, adding that the current economy could not support this. “Recent debt sustainability analyses conducted by the IMF and World Bank indicates that Zambia has a high risk of external debt distress emanating from the Eurobonds maturing in between 2022 and 2027,” he said. He said US […]
