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logo Laura Gardner Cuesta Senior Reporter, Debtwire CEEMEA

Zimbabwe was in the hot seat this week as rioters took to the streets of Harare and Bulawayo to protest the government’s latest fuel price hikes. The violent police crackdown that ensued, with reports of up to eight deaths, will compromise a government intent on clearing billions of US dollars in arrears and end decades of financial isolation, said market participants.

logo Chris Haffenden Managing Editor, CEEMEA, Debtwire

As Ghana exits IMF support, Finance Minister Ken Ofori-Atta is talking up the prospects for the West-African nation harbouring grandiose ambitions for boosting infrastructure. A recent rebasing of its GDP saw its economy grow 30%, reducing its debt metrics to purportedly sustainable levels, but the latest expansionary budget received a thumbs down from investors, with its 2049 USD bond yields hitting double digits, potentially thwarting its issuance plans.

logo Laura Gardner Cuesta Senior Reporter, Debtwire CEEMEA

The Government of Mozambique’s proposal to restructure its 10.5% 2023 sovereign bonds, submitted today (6 November), is an important step toward reaching a final agreement, according to four market participants. However, questions remain regarding the timeline for implementation, the possibility holdout creditors may drag their feet, and the likely net present value (NPV) recovery rate.

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