by Saeed Kamali Dehghan on (#635Y5)
Years of mismanagement have led to soaring debt levels, but critics say that without meaningful relief, austerity will continueThe International Monetary Fund has approved a $1.3bn (£1.1bn) loan to Zambia, as the country scrambles to rebuild its crisis-hit economy after defaulting on its foreign debts in 2020.The Covid pandemic compounded Zambia’s economic woes, blamed on years of mismanagement and corruption, which left the country with unsustainable levels of debt. Continue reading...