Debt talks in Zambia and Ghana, SA’s energy crisis

Delays to Zambia’s debt restructuring threaten to hold up the country’s IMF deal and add to the signs that the Common Framework isn’t fit for purpose. Elsewhere, Ghana’s government appears to be open to suggestions to soften the terms of a domestic debt exchange, which could result in external creditors enduring larger losses as part of a debt restructuring. Meanwhile, South Africa’s energy crisis has continued to dominate the headlines, but officials seem unwilling to swallow the bitter medicine of large electricity tariff hikes that are required to turn the situation around.