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...Another creditor said that repeated calls to enlarge a Signa Prime creditors’ committee had been ignored....
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...The country’s official creditors have already extended their own debt payment moratorium to 2027, when Ukraine’s current IMF bailout ends, and signalled that they will restructure at that stage....
...Finally, China’s representatives in the Official Creditor Committee kiboshed an initial agreement between Zambia and its bondholders in part due to fears this would not leave enough room for a comparable...
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...The bondholders’ committee said on Monday “it was not for official bilateral creditors to dictate debt terms to other creditors in circumstances where the government has confirmed comparability of treatment...
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...not accompanied by effective ways to corral official creditors....
...“We did our part, now creditors — official, private — must do their part,” Hichilema said....
...Yet even with the adjustment, the Official Creditor Committee (OCC) did not bless the deal....
...Zambia’s official creditors including China have already signed up to debt relief, which made a private creditor deal the last hurdle to leaving a 2020 default behind....
...The bondholder committee agreed to directly forgo $700mn of postdated interest as part of the deal, unlike official creditors, which have preferred to avoid writedowns in favour of reducing the cash flow...
...Bondholder talks are the next stage but Ghana also needs to formalise the deal with official creditors, IMF staff said as they gave the green light for the bailout to continue last week....
...“The last two countries that had not signed [deals as] official creditors, China and India, have signed, and I’m very pleased to indicate that,” Hichilema told traditional leaders at Zambia’s annual N’cwala...
...and the Comparability of Treatment principle as agreed with its Official Creditor Committee (the “OCC”), as confirmed in the Government’s press statement of 26 October....
...It said its creditor committee commended the Sri Lankan authorities “for their continuous efforts in implementing the reforms necessary for their country’s return to a sustainable path”....
...The committee also complained of “a significant lack of transparency” from government creditors about details of the terms that they offered Sri Lanka....
...A further irony is that today if there are holdouts they appear to be found within the official creditor community, something the New York proposal does not address....
...So far, Beijing has emphasised the need to complete construction projects but stopped short of unveiling any official measures to help developers in difficulty....
...creditors”, Musokotwane said....
...bank has cut its benchmark interest rate by 10 percentage points to 70 per cent as the monetary authority seeks to reduce the amount of pesos it must print to pay interest on its liabilities with domestic creditors...
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