Zambia's Debt Restructuring Plans Rejected by China and Other Official Creditors Over Bondholder Treatment
-
Zambia's revised $3 billion Eurobond deal rejected by official creditors including China due to lack of comparable treatment
-
IMF approved tweaked deal but official creditors still rejected it based on debt relief offered to bondholders vs bilateral lenders
-
Rejection deals major setback to Zambia's debt restructuring under Common Framework; Zambia bonds drop sharply
-
Creditors demand more relief from bondholders than IMF deems necessary; raises inter-creditor equity issues
-
Failure highlights flaws in Common Framework process; implications felt beyond Zambia - Ghana, Sri Lanka bonds also fall