Tag "debt default"
Could Zambia’s Debt Default Signal a Domino Effect on the African Continent?
In November 2020, news outlets reported that Zambia had become the first African country to default on debt against the backdrop of the Covid-19 pandemic, after opting out of a $42.5 million eurobond repayment. Zambia’s external debt payments have increased significantly since 2014, from 4% of government revenue to an estimated 33% in early 2021. As neighbouring countries in Sub-Saharan Africa continue to suffer the economic squeeze of the pandemic, there are fears that others will follow Zambia in defaulting sooner than experts anticipated.
Chinese Activity in the Arctic
Growing US concerns over Chinese involvement in Arctic affairs have raised tensions between the two states. Although detrimental to mutual trust, it is unlikely that economic activity in the Arctic Circle will be disrupted in the near future as China currently seeks to avoid securitization of the region.
China’s new Silk Road or debt-trap diplomacy?
Italy’s decision to join China’s new Silk Road project last month has heightened Western nations’ concerns over Chinese expansionism.
Mozambique on course for default
After the revelation of hidden debts, the IMF has suspended its emergency aid to Mozambique, and the country is now on course for defaulting on its national debt.
More emerging economies enter bond markets
Countries across Africa and Latin America have expressed a desire to begin or expand the sale of government bonds. Markets seem willing to take them up on their offer. Interest in the
Argentina’s default raises more questions than answers
Of all the defaults through Argentina’s history, the one on august 3rd 2014 is the strangest to date. Moreover, its implications could spill over to the rest of global markets. In
