Zambia’s Bonds Climb After 2025 Budget Wins Praise From Morgan Stanley

TLDR

• Zambia’s dollar bonds surged following praise from Morgan Stanley for the country’s 2025 spending plan.
• Yields on the nation’s $1.7 billion bonds due in 2033 dropped to 7.86% after Finance Minister Situmbeko Musokotwane’s budget announcement on September 27.
• Critics highlight concerns over the failure to address the immediate electricity crisis caused by the El Niño-induced drought, impacting inflation and power shortages.

Zambia’s dollar bonds surged after Morgan Stanley praised the…