#Latest news with #regionallendersBloomberg27-05-2025BusinessBloombergZambia to Remain in Default With Afreximbank Until Debt ReworkedZambia will restructure its debt with regional lenders including the African Export-Import Bank and remain in default on those payments until the process is completed, Finance Minister Situmbeko Musokotwane said. The stance — similar to Ghana's as that country overhauls its own loans — is at odds with Afreximbank's position that its 'preferred-creditor status' means it shouldn't have to absorb losses like other commercial lenders. The difference of opinion may set the stage for a bitter dispute that could set a precedent for how Afreximbank and similar lenders on the continent have their debt treated in other restructurings.
Bloomberg27-05-2025BusinessBloombergZambia to Remain in Default With Afreximbank Until Debt ReworkedZambia will restructure its debt with regional lenders including the African Export-Import Bank and remain in default on those payments until the process is completed, Finance Minister Situmbeko Musokotwane said. The stance — similar to Ghana's as that country overhauls its own loans — is at odds with Afreximbank's position that its 'preferred-creditor status' means it shouldn't have to absorb losses like other commercial lenders. The difference of opinion may set the stage for a bitter dispute that could set a precedent for how Afreximbank and similar lenders on the continent have their debt treated in other restructurings.
27-05-2025
