Zambia: IMF announces good news to authorities

Zambia: IMF announces good news to authorities

The International Monetary Fund (IMF) has announced the approval of a $1.3bn (£1.1bn) loan to Zambia, media reported.

It said the loan would help Zambia restore economic stability and foster higher and more inclusive growth.

The institution said Zambia was dealing with years of economic mismanagement and its growth rates were too low to tackle poverty, inequality and malnutrition.

In return Zambia will have to tackle corruption, eliminate fuel subsidies and make agricultural subsidies more efficient.

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