Zambian government seeks $1 billion in debt service relief
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Zambian government seeks $1 billion in debt service relief

ByBrian Kithinji

Zambia’s government says that the nation is on the verge of receiving $1 billion in debt service relief should all its requests to official and commercial creditors be granted. The country’s Finance Minister Bwalya Ng’andu revealed in a presentation to creditors that Zambia has made formal requests that aim to wipe out its debt. “We…

Nigerian foreign reserves up $200 million following London court ruling
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Nigerian foreign reserves up $200 million following London court ruling

ByBrian Kithinji

A London court ruling that ordered the release of a guarantee put in place as security for a failed gas project has driven Nigerian foreign reserves by $200 million. The West African state’s dollar reserve had lost 15% of its value in the 2019 financial year, and it was further strained following collapse of oil…