Sovereign Debt

Sovereign Debt

IMF and Mali Agree On $120 Million Rapid Credit Facility.

Mali recently reached a staff-level agreement with the International Monetary Fund (IMF) to obtain emergency financing through the Exogenous Shock Window of the Rapid Credit Facility (RCF). Why is this important: The agreement will provide Mali with $120 million (approximately 0.6% of GDP) to support its urgent balance-of-payments (BOP)

Sovereign Debt

International Creditors Extend Ethiopia's Time to Complete IMF Support Deal.

Ethiopia has been granted an extension until the end of June by its international creditors, The Paris Club, to secure a bailout deal with the IMF as reported by Reuters. The big picture: This comes after the country missed a $33 million coupon payment on its $1 billion Eurobond due

Sovereign Debt

Zambia Agrees Historic $3.5 billion Debt Restructure Deal with Private Creditors.

Zambia has taken significant steps to improve its debt with a new $3.5 billion debt restructuring deal with its Eurobond holders. Why is this important: Zambia, Africa's largest copper producer, defaulted on its $18.6 billion external debt in 2020 and has since failed to reach an