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Tag: April

Zambia aims to clinch debt restructuring deal by April – finance minister

September 29, 2020
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| finance

Adds details, background

LONDON, Sept 29 (Reuters) – Zambia hopes to reach a debt restructuring agreement with creditors by April and hopes to get nearly $1 billion of debt service relief from its requests to official and commercial creditors, Finance Minister Bwalya Ng’andu said on Tuesday.

One of the world’s largest copper producers, Zambia had been wrestling with growing public debt even before the coronavirus outbreak forced lockdowns around the world and cut demand for raw materials.

“We have engaged systematically with our official creditors for debt service suspension as well as our commercial creditors to seek similar debt service treatment, including the rescheduling of past due arrears accumulated throughout the year,” Ng’andu told creditors in a webcast.

“We hope to be in a position to reach an agreement in principle with our external creditor community on a debt treatment and with the IMF on a staff level agreement

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Stocks rally to end bitter week; dollar up the most since April

September 27, 2020
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| business

By Rodrigo Campos

NEW YORK (Reuters) – Stocks fell 2% around the globe this week and the dollar posted its strongest weekly performance since April as concern over the economic effect of a second wave of coronavirus-related lockdowns weighed on investors’ risk appetite.

But tech stocks led the way higher on Wall Street on Friday, as they have of late on days governed by worries over the economic recovery. The gains more than offset losses in Europe and an index of major stock markets globally rose 1% on the day.

Other than COVID-19 angst, the week was dominated by speculation over the likelihood of another stimulus package to support the American economy.

“There’s evidence of a slowdown in the United States, which we think is temporary, but it would be reinforced if there is no additional fiscal package,” said Sebastien Galy, senior macro strategist at Nordea Asset Management.

On Wall

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Stocks Rally to End Bitter Week; Dollar up the Most Since April | Investing News

September 26, 2020
| No Comments
| business

NEW YORK (Reuters) – Stocks fell 2% around the globe this week and the dollar posted its strongest weekly performance since April as concern over the economic effect of a second wave of coronavirus-related lockdowns weighed on investors’ risk appetite.

But tech stocks led the way higher on Wall Street on Friday, as they have of late on days governed by worries over the economic recovery. The gains more than offset losses in Europe and an index of major stock markets globally rose 1% on the day.

Other than COVID-19 angst, the week was dominated by speculation over the likelihood of another stimulus package to support the American economy.

“There’s evidence of a slowdown in the United States, which we think is temporary, but it would be reinforced if there is no additional fiscal package,” said Sebastien Galy, senior macro strategist at Nordea Asset Management.

On Wall Street, the Dow

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