Zambia hires Lazard to advise on $11bn debt burden

“Zambian president Edgar Lungu’s government has hired Lazard to advise on restructuring the cash-strapped southern African nation’s $11bn foreign debts that have threatened to become Africa’s first sovereign default during the coronavirus pandemic. The investment bank was hired on a $5m contract to advise on ‘liability management’ of the country’s debt.”

via Financial Times