As a country we have a mountain to climb to reach a debt restructuring deal. Our private creditors (listed below) are sceptical about the strengh of Zambia's economy. They are saying Zambia's economy is not as strong as some have assumed.
They are concerned that Zambia's economy is not strong enough to support the debt burden it currently faces. They argue that the country's economy is too reliant on copper exports and that it is vulnerable to shocks in the global commodity markets. If we reach an agreement with the private creditors, it will be a miracle.
Private creditors: $10.1 billion
Ashmore Group: $0.9 billion
Alliance Bernstein: $0.8 billion
Amundi Asset Management: $0.7 billion
AXA Investment Managers: $0.6 billion
BlackRock: $0.5 billion
BlueBay Asset Management: $0.4 billion
BNP Paribas Asset Management: $0.3 billion
Cargill Financial Services: $0.3 billion
Deutsche Bank: $0.2 billion
PIMCO: $0.2 billion
Schroders: $0.2 billion
Standard Chartered Bank: $0.2 billion
Saying goodbye to #Chipata - the city of bikes ๐ฒ & biking taxis ๐ด๐ฝโโ๏ธ- in style!
Environmental ๐ฟ friendly & efficient & really comfy w/ a padded rack. The city has made space for them, feels safe๐ฅ
Highly recommended for other cities like #Lusaka to follow suit!
#SweZam ๐ธ๐ช๐ฟ๐ฒ๐