Zambia's Bond Restructuring Deal Rejected by Official Creditors and IMF
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Zambia's official creditors rejected the bond rework deal as too generous to bondholders.
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The deal did not deliver debt relief comparable to what official creditors offered separately.
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IMF also rejected the deal saying it did not comply with "Comparability of Treatment".
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Official creditors offered longer 3-year grace period versus bondholders.
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IMF may support adjusted terms that are compatible with Zambia's program.