Thursday, July 25, 2024

President Hichilema expresses gratitude to Amia Capital

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President Hakainde Hichilema met with Alex Garrard from Amia Capital, one of the representatives of Zambia’s Eurobond holders. This meeting follows the recent vote by Eurobond holders overwhelmingly in favor of restructuring Zambia’s three Eurobonds, replacing them with two new ones.

President Hichilema expressed gratitude to Amia Capital and asked them to convey his thanks to the other bondholders for their support in the debt resolution process. “We thanked Amia Capital and requested them to convey our gratitude to the rest of our bondholders for the support to our debt resolution process,” he stated.

The restructuring has provided Zambia with more fiscal space, improving its economic outlook. As a result, Zambia’s Eurobonds are now trading on the international capital market without a default status. The country’s credit rating has also been adjusted upwards following this decision.

President Hichilema urged Amia Capital, which is also active in Zambia’s domestic bond market, to continue investing in the country and explore further investment opportunities. “We urged Amia Capital, who are also active in our domestic bond market, to continue investing in our country and look at other investment opportunities as we work to transform our economy for the better welfare of our people,” he said.

Zambians in the UK at a meeting with President Hichilema

In a separate engagement, President Hichilema interacted with Zambians in the diaspora, referring to them as the “11th Province of Zambia.” During the meeting, he outlined government policies and implementations carried out so far, highlighting business and investment opportunities in sectors such as energy, tourism, agriculture, and mining.

“We took time to outline some of our government policies and implementations that we have carried out so far,” the President shared. He emphasized the importance of the diaspora’s continued support and prayers for Zambia’s ongoing development.

President Hichilema’s efforts in restructuring the Eurobonds and engaging with the diaspora underscore his administration’s commitment to economic transformation and inclusive growth for the betterment of all Zambians.

President Hichilema addresses Zambians in the UK

5 COMMENTS

  1. All these debts and Eurobond slavery came courtesy of irresponsible PF and their inept leaders MCS and Edgar Lungu.

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    • You forget that it was MMD who had already approved borrowing through the Eurobond since we had reached the status of the “Middle Lower Income Country” after our debts were cancelled upon reaching the HIPC completion point. We could borrow much to finance most of our projects under concessional terms from the World Bank, EIB and other multilateral lenders!! So commercial loans like Eurobonds were inevitable!!

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