Fitch Downgrades Zambia to ‘CC’

“The government is unlikely to be able to fully meet its external debt obligations in 2020 and 2021 in the absence of new external financing sources. The government faces external debt service payments, including principal and interest, totalling USD1.5 billion in 2020; this is approximately 115% of official gross international reserves at end-January 2020.”

via Fitch Ratings