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May 22, 2022
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BlackRock urged to delay debt repayments from crisis-torn Zambia

Anti-poverty campaigners say world’s largest fund manager refuses to reduce or delay payments on Zambia’s debt

BlackRock, the world’s largest fund manager, has come under pressure to delay demands for debt interest payments from Zambia to prevent the crisis-hit African country’s finances from spiralling out of control.

Anti-poverty campaigners said BlackRock, which manages $10tn (£7.68tn) of assets, was among the private sector lenders that had refused to reduce the interest rate or delay payments on Zambian bonds, unlike governments and international agencies that hold the country’s debts.

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