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.
Latest Stories
-
EPA says lead-based paints are dangerous to health, calls for safer alternatives
23 minutes -
Queenmother calls on President-elect Mahama to appoint more women in his government
2 hours -
Atletico Madrid beat Barcelona to go top of La Liga
3 hours -
Usyk breaks Fury’s heart with points win in rematch
3 hours -
Ghana-Russia Centre to run Russian language courses in Ghana
8 hours -
The Hidden Costs of Hunger: How food insecurity undermines mental and physical health in the U.S.
9 hours -
18plus4NDC marks 3rd anniversary with victory celebration in Accra
11 hours -
CREMA workshop highlights collaborative efforts to sustain Akata Lagoon
12 hours -
2024/25 Ghana League: Heart of Lions remain top with win over Basake Holy Stars
13 hours -
Black Queens: Nora Hauptle shares cryptic WAFCON preparation message amid future uncertainty
13 hours -
Re-declaration of parliamentary results affront to our democracy – Joyce Bawah
13 hours -
GPL 2024/25: Vision FC score late to deny Young Apostles third home win
13 hours -
Enhancing community initiatives for coastal resilience: Insights from Keta Lagoon Complex Ramsar Site Workshop
13 hours -
Family Health University College earns a Presidential Charter
14 hours -
GPL 2024/25: Bibiani GoldStars beat Nsoatreman to keep title race alive
14 hours