Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Zambian bilateral creditors rejected the preliminary deal it reached with private bondholders

InternationalNov 27, 2023
Zambian bilateral creditors rejected the preliminary deal it reached with private bondholders

Zambia's debt restructuring suffered a serious setback when bilateral creditors suspended a deal it reached with private bondholders last month. Bilateral creditors, including China, expect more debt relief from international funds or higher haircuts.

Zambia needs agreements with its external creditors to continue receiving disbursements under its $1.3 billion bailout program with the IMF. Private bondholders proposed two bonds with easier terms and longer payment deadlines, but also offered additional faster payments if the country's economy does well.

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