ZAMBIA has launched a tender offer to repurchase its US$1.36 billion fixed-rate step-up amortising notes due in 2053, a move described as a decisive step forward following the country’s successful debt restructuring in 2024. Economist Professor Lubinda Haabazoka says government’s move to buy back more than US$1.3 billion worth of Eurobonds is one of the most important debt management decisions since Zambia completed its restructuring. In a statement issued by the Ministry of Finance and National Planning, Office of the Secretary to the Treasury, the Ministry disclosed that in order to power the initiative, it secured a $600 million loan from the African Development Bank (AfDB) on favourable terms, complemented by the mobilisation of the country’s own resources. The Ministry...