The ‘blood, sweat and tears’ behind Zambia’s default

“When Zambia sold the last of its three US dollar bonds in 2015, it capped a decade in which the copper-endowed African country went from needing debt relief reserved for the world’s poorest nations to tapping the global capital markets with ease. But just five years later, that bond is in default, with the rest of Zambia’s $3bn international bond borrowings.”