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IMF supports eurobond plan
The International Monetary Fund (IMF) has backed plans by Zambia to sell a second eurobond even as yields on existing debt have surged to a record. “Given Zambia’s relatively modest overall debt level, strong economic growth and large investment needs, a sizeable eurobond issuance would make sense,” Tobias Rasmussen, the IMF’s resident representative for the country, said at the weekend. The proviso was that market conditions were favourable and the proceeds were invested in projects that would support the economy, he said. – Bloomberg
