THE Centre for Trade Policy and Development (CTPD) has commended government following the successful execution of a Eurobond buyback exercise that recorded a participation rate of 97.85 percent. However, CTPD says a full net present value analysis is still required to determine whether the transaction will result in net savings for the country. On Wednesday, the Ministry of Finance and National Planning announced the launch of a tender offer to repurchase a portion of Zambia’s US$1.36 billion Eurobond due in 2053. The transaction is backed by a US$600 million loan from the African Development Bank (AfDB) and a US$65 million incentive to encourage bondholder participation in the buyback exercise. “The Republic of Zambia has announced strong early results from the...