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Articles for Zambia, search results for g20

Is a global debt bomb about to explode?
1 year, 6 months ago

Is a global debt bomb about to explode?

Al Jazeera  

The majority of low-income nations are on the cusp of a debt crisis, sparking fears of global contagion. “Every day we don’t deliver these things that are within our control, we are basically increasing the costs and the damage gets compounded.” The queue of countries seeking debt restructuring like Zambia is only growing. However, economists and debt-management experts say richer …

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India's G20 Summit: What Global Governance Dilemma Means for Modi's Leadership
1 year, 10 months ago

India's G20 Summit: What Global Governance Dilemma Means for Modi's Leadership

The Quint  

If the G20 finance ministers can break the deadlock, it could unlock restructurings in Sri Lanka and Zambia—those worst-affected by sovereign debt defaults, helping them with immediate aid while also renewing hope for other nations seeking desperate debt relief measures. A larger concern that stems from the gridlock seen in the way G20 functions is evident from the fact how …

G20
Spill over of macroeconomic tightening of major economies, debt overhang need to be addressed: Janet Yellen
1 year, 10 months ago

Spill over of macroeconomic tightening of major economies, debt overhang need to be addressed: Janet Yellen

Live Mint  

War, debt and economics are set to dominate G20 leaders’ discussions over the next two days. US Treasury Secretary Janet Yellen on Thursday flagged the need for tackling challenges like the spill over effects of macroeconomic tightening in major economies to the rest of the world and the debt distress in vulnerable countries like Zambia and Sri Lanka, ahead of …

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Mint Explainer: Will Africa divide the G20?
1 year, 10 months ago

Mint Explainer: Will Africa divide the G20?

Live Mint  

G20 finance ministers and central bank governors go into a huddle on Friday and Saturday. G20 chair India, and the International Monetary Fund, say debt restructuring of low-income countries and emerging economies will top the agenda of the sessions. Any effort by India and its allies, such as the US, to widen their influence in Africa, directly or through multilateral …

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The G20 must help resolve debt crisis across the world
1 year, 10 months ago

The G20 must help resolve debt crisis across the world

Live Mint  

Debt distress is not merely a macroeconomic problem. As India has assumed the G20 presidency at an uncertain time for the global economy, addressing debt distress, initiating action and devising a coordinated framework for relief would be daunting endeavour.The G20 in 2020 launched a Common Framework which brought creditors such as China and India, along with the IMF, the Paris …

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Chad’s creditors close to agreeing debt relief: French official
2 years, 3 months ago

Chad’s creditors close to agreeing debt relief: French official

Al Jazeera  

Alongside Ethiopia and Zambia, Chad is one of three countries seeking debt restructuring under a G20 initiative. Chad’s creditors are close to reaching a debt relief agreement, which would be the first under a new G20 debt restructuring framework, a French finance ministry source said on Monday. Alongside Ethiopia and Zambia, Chad is one of the three countries that have …

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Zambia says it will default on debt owed private investors
4 years, 1 month ago

Zambia says it will default on debt owed private investors

Associated Press  

LUSAKA, ZAMBIA — Zambia’s government said it would miss a Friday deadline to clear debt owed to external investors who rejected the country’s request for deferral of an overdue $42.5 million interest payment. The southern African country had to pay up by Saturday to avoid becoming the first African nation to default amid the coronavirus pandemic after repeatedly failing to …

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