Zambia Hopes to Secure IMF deal by End of Month

Zambia hopes to secure a support programme from the International Monetary Fund by the end of the month, the country's Finance Minister Situmbeko Musokotwane said on Tuesday, Reuters reported. "Zambia's debt problem is a huge problem," Musokotwane said during a webinar. "By the end of this month we should reach a staff level agreement with the IMF". Zambia - one of the world's largest copper producers - became Africa's first COVID-era sovereign default last year although the problems had been building for years due to chronic government overborrowing. The country's new government will resume talks with the IMF on Wednesday its Secretary to the Treasury, Felix Nkulukusa, said on Monday. Read more.
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