Zambia has formally defaulted on about $3 billion in eurobonds after a 30-day grace period to pay a $42.5 million coupon due in October ran out, making it the first African country to default since the onset of the Continent’s COVID-19 crisis, Bloomberg reported Nov. 13. 

Zambia: Country Becomes Africa’s First Pandemic-era Sovereign Default

Zambia

Economics

Environment, Science & Technology

The Suitors of Sub-Saharan Africa

 Zambia has formally defaulted on about $3 billion in eurobonds after a 30-day grace period to pay a $42.5 million coupon due in October ran out, making it the first African country to default since the onset of the Continent’s COVID-19 crisis, Bloomberg reported Nov. 13. 

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Zambia: Country Becomes Africa’s First Pandemic-era Sovereign Default

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