J.P. Morgan announces Zambia's inclusion in new GBI-EM Edge frontier local‑currency index

On 15 September 2026 J.P. Morgan confirmed Zambia will be included in its new GBI‑EM Edge local‑currency government bond index, a frontier‑market benchmark that covers roughly US$330bn across 26 countries. Inclusion makes Kwacha‑denominated government bonds eligible for passive index allocations subject to the index's eligibility rules and maturities.

Index inclusion creates a predictable pool of passive demand for eligible Zambian LCY government bonds, potentially compressing yields and deepening benchmark segments if the index references the same maturities Zambia has enlarged. Actual liquidity and yield effects will depend on index weightings, which maturities qualify, investor allocations, and broader global rate and FX conditions.

J.P. Morgan to launch the GBI‑EM Edge index and publish final country weights, eligible maturities and security‑level inclusion by end‑September 2026.