S&P Removes Zambia’s Default Rating on Debt Recast Progress
PositiveFinancial Markets

- S&P Global Ratings has removed its default rating for Zambia, marking a significant turnaround for the country five years after it became Africa's first pandemic-era sovereign defaulter by missing a dollar bond payment in 2020. This decision reflects Zambia's progress in restructuring its debt and improving its fiscal management.
- The removal of the default rating is a positive development for Zambia, as it may enhance investor confidence and facilitate access to international capital markets, which are crucial for the country's economic recovery and growth.
- This development highlights the contrasting financial situations within Africa, where while Zambia is making strides in debt management, other nations like Bahrain are facing downgrades due to worsening fiscal conditions. The disparity in credit ratings among African nations continues to pose challenges, leading to higher borrowing costs and impacting economic stability across the continent.
— via World Pulse Now AI Editorial System


