5 Countries With The Highest Bond Yields

2. Republic of Zambia

10 Year Bond Yield as of November 30th, 2022: 30.06%

The Republic of Zambia is a former British colony that gained independence in 1964. It is a landlocked country that relies primarily on copper for exports. The country’s GDP equaled $76 billion and its GDP per capita stood at $3,808 in 2022. Additionally, the Republic of Zambia’s exports of $11 billion outstripped its $6.9 billion in imports in 2021, lending it a rather solid footing. However, the country was also the first African nation to default its bond obligations in 2020, as a drop in global activity in the wake of the coronavirus pandemic led to copper prices crashing as well and drying a key source of revenue for the Zambian government. The Republic of Zambia’s bonds are currently rated as Restricted Default by both Fitch and S&P Global Ratings, leaving no question about why its debt yield is so high.