Jittery investors force the Treasury to abandon plans to restructure Eurobond loans

National Treasury CS Ukur Yatani.

The National Treasury has dropped plans to reschedule payment of Eurobond loans, with the last week’s announcement spooking investors.

Yesterday, Treasury cancelled an earlier advertisement seeking the services of a “sovereign debt advisory firm,” - which gave an impression that all types of commercial loans including Eurobond loans would be restructured.

This roiled the market with investors fearing there would be a delay in the payment of their loans as it happened with Zambia. Treasury was forced...