On 13 November, the G20 published the anticipated ‘Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative (DSSI)’. In what may be read as a concession to get China on board, the framework refers to debt cancellations as ultima ratio, reserved exclusively for “the most difficult cases”.… Read the rest
Finance Minister Bwalya Ng’andu confirmed today, 13 November, that Zambia would “have no other alternative but to accumulate arrears” on its 2024 Eurobond, where the grace period on a USD 42.5mn coupon payment expires today.… Read the rest
Since he was sworn in as president on 10 November, Manuel Merino has appointed a cabinet chief (PCM) and a new cabinet. At the same time, protests against Merino’s elevation following Martin Vizcarra’s ouster have grown in intensity.… Read the rest
While the post-election stand-off between the opposition and the government continues, the risk of a violent escalation appears to have largely subsided for now. Neither the ongoing house arrest of key opposition leaders, nor an open appeal by the exiled ex-militia leader Guillaume Soro to members of the armed forces to mutiny have triggered a tangible reaction.… Read the rest
President Sebastian Pinera’s administration increasingly resembles a damage limitation exercise. This week, Pinera lost an Interior Minister, Victor Perez, who had only been in the job for 98 days. In parallel, a bill that would allow people to make a second withdrawal from the private pension (AFP) system – a measure the government opposes but which it cannot hold off – is now ready for a plenary vote in the lower house.… Read the rest
