Tag Archives: IMF's loan to Zambia

Zambians have celebrated the clinching of the $1.3bn (£1.1bn) bailout from the International Monetary Fund (IMF) after seven years of waiting. Social media is awash with memes and celebratory messages after the news broke, especially because Zambia became the first African country to default on its debt – estimated to …

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 …