Creditors must wake up fast to threat of emerging market debt crisis

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Zambia could become the first country to default on its debts amid the fallout from Covid-19, but it won’t be the last

Zambia is running out of money to pay its debts. It has asked bondholders for breathing space so that it can put a restructuring plan in place. The copper-rich African state is at risk of being the first country to default on its debts since the start of the coronavirus pandemic.

 

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