www.bloomberg.com/opinion/articles/2025-06-25/bond-traders-may-have-found-the-next-greece-in-zambia

The world’s favourite currency since May 23.

Rainfall and copper demand are up.

…..

^{Bloomberg: The $2.74 billion of dollar-denominated government securities that make up the Bloomberg Zambia Sovereign Debt Index gained 18% since July.}

^{That’s a month after the country completed the refinancing of its troubled debt, pushing out maturities on $6.3 billion in bilateral obligations to 2043, and double the total return (income plus appreciation) of the emerging-market benchmark.}

^{Bondholders are reaping a bonanza: A $100 million investment has swelled to $121 million in less than a year as lenders to emerging markets and high-yield borrowers in general turned the same amount into much less, or $109 million and $112 million, respectively.}