Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Zambia picks French firm Lazard Freres as debt advisers

share with twitter share with LinkedIn share with facebook
05/28/2020 | 03:49am EDT

Zambia has picked French company Lazard Freres to provide advisory services regarding liability management for its debt portfolio, Secretary to the Treasury Fredson Yamba said on Wednesday.

The finance ministry said in March it was looking for financial advisers to help ensure the sustainability of its debt and manage any loans maturing from next year and beyond.

The proposed contract is a maximum of $5 million, which is negotiable by mutual agreement and payable based on work done in three years, Yamba said in a statement.

"The government of Zambia intends to use the services of the financial advisers in line with signed agreements with lenders - multilateral, bilateral and private," Yamba said.

Zambia's public debt is on an unsustainable path, International Monetary Fund (IMF) Director of Communications Gerry Rice told a news conference on May 21, while noting the government's commitment to restore debt sustainability through fiscal policy adjustment and debt management.

Even before the coronavirus outbreak forced lockdowns across the globe, crimping international demand for raw materials, Zambia, Africa's second largest copper producer, had been wrestling with growing public debt.

(Reporting by Chris Mfula; Editing by Mark Heinrich)

Stocks mentioned in the article
ChangeLast1st jan.
LAZARD LTD 0.88% 28.56 Delayed Quote.-28.53%
ROUGH RICE FUTURES (ZR) - CBE (ELECTRONIC)/C1 0.15% 16.18 End-of-day quote.23.18%
THE NEW HOME COMPANY INC. -4.24% 3.39 Delayed Quote.-27.25%
share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
07:35aSt. Louis Firm Mentoring Complete, Associated Colleges of Illinois Partner, Offer Career Mentoring Program for College Seniors
SE
07:30aJohnson says supporting aviation sector, but cannot save every job
RE
07:26aCENTRAL BANK OF PHILIPPINES : Personal Remittances Reach US$10.5 Billion in January-April 2020
PU
07:22aBlow for EU as Apple wins fight against $15 billion tax order
RE
07:21aCENTRAL BANK OF BARBADOS : Register for the Central Bank of Barbados' 40th Annual Review Seminar
PU
07:20aBash Foo Teams Up with Thomas as a Certified Thomas Agency
SE
07:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
07:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
07:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
07:15aXpand Staffing Announces Relocation to Larger Facility in Sunrise, Florida
SE
Latest news "Economy & Forex"