Zambia Raises Foreign Bond Limit

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Zambia raised the cap on foreign participation in local-currency government bonds to 23 percent from 5 percent, giving non-resident investors more room to roll over maturing debt freely. The move came as about $1.16 billion in bond-related payments fell due this year. Authorities said the change should ease refinancing pressure, reduce rollover and currency risks, and support effective debt management following Zambia’s recent restructuring.