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
-
Flood mitigation should be continuous, not a one-off effort – Expert warns
2 minutes -
From Tragedy to Triumph: Ghana’s path to flood resilience (A Story of Lessons Learned, Global Inspiration, and a Collective Commitment to a Better Future)
5 minutes -
Kristo Asafo dispute centres on my father’s final directives, not inheritance — Adwoa Safo
13 minutes -
Kristo Asafo saga: ‘My dad didn’t die intestate; he left a valid will’ – Adwoa Safo
14 minutes -
New Eastern Regional Fire Commander tours stations, identifies key operational challenges
55 minutes -
Government fully responsible for Accra flooding crisis – Miracles Aboagye
1 hour -
Successive governments have failed to address flooding crisis – Susan Adu-Amankwah
1 hour -
No one can hold title on Ramsar sites – Inusah Fuseini warns against encroachment
1 hour -
We don’t need prayers or relief items; enforce the law – Samson Lardy Anyenini on recurring floods
1 hour -
Fresh attempt to remove seized galamsey excavators in Aowin sparks controversy
1 hour -
Susan Adu-Amankwah urges African governments to evacuate citizens over South Africa xenophobic attacks
1 hour -
Former Finance Minister Amin Adam hands over Masjid Al-Noor to Muslim community
1 hour -
Bawumia commends Amin Adam for visionary Masjid Al Noor project in Tamale
1 hour -
Flood-related death toll could rise amid possible disease outbreak — Susan Adu-Amankwah warns
2 hours -
Xenophobia: South Africa must use civilised means to remove illegal migrants – Inusa Fuseini
2 hours