Zambia defaulted on its debt in 2020
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
-
I was 20 when I played for Ghana’s U-17 team – Charles Taylor
2 hours -
Journalist Fentuo Tahiru Fentuo launches Tumu Community Cup set for May 24
2 hours -
Joseph Taylor breaks Ghana’s 29-Year 400m national record with sub-45s run
2 hours -
Greater Accra public lands: Government to set up Commission of Inquiry
3 hours -
Cleanliness to be used for measuring performance of MMDCEs – Mahama
3 hours -
You are now a beacon of hope – Nungua Mantse to President Mahama
3 hours -
‘Smart formalisation’ holds the answer to Africa’s problems – Bawumia
3 hours -
President Mahama assures chiefs and people of Greater Accra of good roads
3 hours -
Mahama announces plans to upgrade Greater Accra Regional Hospital to Teaching Hospital
3 hours -
‘Stop boasting amidst debt’ – Walewale MP chides government
3 hours -
Walewale MP accuses John Jinapor of dubious procurement amid energy sector concerns
3 hours -
Toobu urges humane and collaborative approach to tackling street begging
4 hours -
26-year-old cleaner jailed 36 months for stealing $5k
4 hours -
Herdsman in police custody over cattle theft
4 hours -
Vivo Energy holds annual retail conference and awards
4 hours