November 20, 2020/IMF Weekend Read ACTING TOGETHER AMID UNCERTAINTY As G20 leaders prepare for their virtual summit this weekend, IMF Managing Director Kristalina Georgieva urged governments to continue with strong policy action to combat the ongoing uncertainty caused by the crisis. “Success here depends on us acting swiftly—and acting together. […]
OPINION/EDITORIAL
Zambia Default: Lessons for other African countries
November 20, 2020/United Capital Report Last Friday, Zambia became the first African economy in the pandemic era to default on a part of its debt after predictably failing to make an interest payment on a Eurobond. Recall that the country, in September, requested that interest rates for 3 Eurobonds be […]
Time is Ripe for Innovation in the World of Sovereign Debt Restructuring
November 19, 2020/IMFBlog By Peter Breuer and Charles Cohen When corporations have too much debt and need to restructure i, creditors often end up exchanging bonds or loans for stocks. They trade the guaranteed payout of a fixed-income investment for an equity position whose return depends on the company’s future […]
