Home Our Region Gutsy Zambia becomes first African country to defy private creditors

Gutsy Zambia becomes first African country to defy private creditors

116
0

The African country wants to divert resources to take care of its
people during the pandemic.
One of the poorest countries in the world, Zambia, has decided to
temporarily suspend interest payments to private creditors as it struggles to
contain the economic fallout of the corona-virus pandemic. 
President Edgar Lungu’s government has suspended them for six months,
starting from October. Even though it is a freeze due to a cash-crunch and
not a cancellation, in the world of finance, it is being seen as a debt
default. 
MORE
https://www.trtworld.com/magazine/gutsy-zambia-becomes-first-african-country-to-defy-
private-creditors-39988

LEAVE A REPLY

Please enter your comment!
Please enter your name here