06-08-2025
Zambia's Bonds Sink Most in Emerging Markets After IMF's Warning
Zambia's dollar-denominated bonds led losses among emerging peers on Wednesday after the IMF warned that the country's capacity to service its debt remains weak, dampening bondholders' hopes for improved terms.
The country's bonds due in 2053 fell as much as 3 cents on the dollar to 70.6 cents, marking the biggest decline in EM debt on Wednesday. The notes had rallied nearly 50% since April on expectations that an IMF upgrade in Zambia's debt-carrying capacity would unlock more favorable repayment terms.
