Zambia defaulted on its debt in 2020
Audio By Carbonatix
The World Bank says it has approved a $270m (£232m) loan to Zambia to help it recover from the effects of the coronavirus pandemic, and the economic impact of the war in Ukraine and to manage its debt crisis.
In late 2020 Zambia became the first African country since the onset of the pandemic to default on its debt.
In August, the International Monetary Fund approved a $1.3bn loan to help Zambia - a major copper producer - restructure its debts.
The president of the World Bank has urged other creditors to help reduce Zambia's debt.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
GPL 2025/26: Asante Kotoko draw with GoldStars to extend winless run
2 hours -
Fire guts temporary wooden structures at Afful Nkwanta in the Ashanti Region
3 hours -
Haruna Iddrisu didn’t approve gender identity content – Education Ministry
3 hours -
‘We are not for sale’: Thousands rally in Greenland and Denmark against Trump’s annexation threat
3 hours -
Deputy Education Minister directs GES to act on video of SHS students displaying charms
4 hours -
From camouflage to tracksuits – Guinea’s junta leader becomes civilian president
4 hours -
Iran supreme leader admits thousands killed during recent protests
4 hours -
Judiciary to roll out court decongestion measures, galamsey courts – Chief Justice
5 hours -
Ugandan leader to extend 40-year rule after being declared winner of contested poll
6 hours -
Residents demand action on abandoned Salaga–Kumdi–Kpandai road
6 hours -
Ghana, Japan explore ways to deepen long-standing bilateral ties
6 hours -
Ghana Navy foils illegal fuel bunkering operation along Volta coastline
6 hours -
Gov’t assures minimal power disruption during WAPCo gas pipeline maintenance
7 hours -
Burna Boy and Sporty Group unveil new single “For Everybody” celebrating Africa’s sports heritage and cultural excellence
7 hours -
Achieve By Petra partners Richie Mensah to drive financial independence
7 hours