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)

Zambia successes restructuring a large part of it's defaulted debts to exit from default status

InternationalMay 31, 2024
Zambia successes restructuring a large part of it's defaulted debts to exit from default status

Nearly 90% of the bondholders backed the restructuring plan to complete the Zambia debt restructuring by last week. Zambia has also secured relief on over USD 6Bn in debts owed to official lenders dominated by China.

However, the country still has to negotiate terms with more than USD 3Bn of other private debts. These are mostly owed to Chinese commercial lenders. Zambia has been under pressure to finalise a restructuring in order to continue a USD 1.3Bn IMF bailout.

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