Tag Archives: International Monetary Fund

Zambia’s foreign debt tragedy – what needs to happen to resolve the crisis

November 28, 2023EconomyBankruptcy, China, Creative Commons, Creditor, Danny Bradlow, Debt, Debt crisis, Debt restructuring, France, Government debt, Hakainde Hichilema, Insolvency, International Monetary Fund, Paris Club, Zambiaadmin

Danny Bradlow, University of Pretoria

Three years after defaulting on its foreign debt, Zambia is still trying to reach agreement with all its creditors on how to manage this situation. This has left the southern African country in a state of development finance limbo. It is handicapped in raising the funds needed to generate jobs, build infrastructure, provide health, education and social services and deal with climate change. Its president, Hakainde Hichilema, has warned that the situation threatens to undermine its democracy.

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23Jun/23

Is zambia the cinderella of Africa, poor indebted by wicked China and saved by the western prince?

June 23, 2023EconomyArticles, China, China–Zambia relations, Christianity in Zambia, Economy, Economy of Zambia, France, G20 Washington summit, Global financial system, International Monetary Fund, Paris, Sustainability, United States–Zambia relations, World, Zambiaadmin

23 June 2023 /Economy/– Zambia’s recent debt restructuring deal with its creditors is a major step forward for the country’s economy. The deal will allow Zambia to access much-needed financial resources to help it recover from the COVID-19 pandemic and stimulate economic growth.

In the short term, the deal will likely lead to a decrease in Zambia’s debt servicing costs, which will free up funds that can be used for other purposes, such as infrastructure development and social programs. This will help to boost economic growth and improve living standards for Zambians. Continue reading →

18Apr/23

Debt dangers in Africa: how defaults hurt people, and why forgiveness isn’t the answer

April 18, 2023EconomyAngola, Austerity, Cabo Verde, Caroline Southey, Creative Commons, Debt, Debt of developing countries, Debt relief, Economy, Egypt, Eritrea, Finance, Fiscal policy, Ghana, Ghanaian Cedi, Government debt, International Monetary Fund, Malawi, Money, Namibia, Philippe Burger, Republic of Congo, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, United Kingdom national debt, United States, Zambia, Zambian Kwacha (Rebased Jan 2013), Zimbabweadmin

Philippe Burger, University of the Free State

Public debt repayments in some African countries are at their highest levels since 1998. The Conversation Africa’s founding editor Caroline Southey talks to dean and economics professor Philippe Burger about the danger of debt problems some African countries face.

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16Apr/23

What is in Zambia’s debt restructuring proposal sent bondholders?

April 16, 2023EconomyBankruptcy, China, Debt, Debt relief, Debt restructuring, Economy, Eurozone, External debt, Finance, Insolvency, International Monetary Fund, Money, Zambiaadmin

April 16, 2023 /Finance/ — If Zambia’s debt restructuring proposal is successful, it will help to improve the country’s economic outlook and create a more stable environment for businesses and investors. This will ultimately benefit the Zambian people by creating jobs, improving infrastructure, and providing access to basic services.

It is important to note that there are a number of risks associated with Zambia’s debt restructuring proposal. If the proposal is not successful, it could lead to a further deterioration in Zambia’s economy and could potentially lead to a default on Zambia’s debt.

Zambia sent a debt restructuring proposal to bondholders on April 14, 2023. The proposal includes the following key points: Continue reading →

27Oct/22

The whole world is facing a debt crisis – but richer countries can afford to stop it

October 27, 2022EconomyArgentina, Asian financial crisis, Austerity, China, Creative Commons, Debt, Debt relief, Economy, Egypt, Financial crises, Financial crisis, Foreign exchange reserves, Ghana, International macroeconomics, International Monetary Fund, Kenya, Pakistan, Patrick E. Shea, Qatar, Russia, Saudi Arabia, SHUTTERSTOCK, Sri Lanka, Stock market crashes, Turkey, Ukraine, United Arab Emirates, United Nations Development Group, United States, Zambiaadmin

Patrick E. Shea, University of Glasgow

Countries across the world are drifting towards a debt crisis. Economic slowdowns and rising inflation have increased demands on spending, making it almost impossible for many governments to pay back the money they owe.

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01Sep/22

IMF Executive Board Approves New Extended Credit Facility (ECF) Arrangement for Zambia

September 1, 2022FinanceDC, Economy, Fiscal policy, Fiscal space, Fiscal sustainability, International Monetary Fund, Kristalina Georgieva, NICO MOMBRIAL, Organizations, United Nations, United Nations Development Group, United Nations Economic and Social Council, Washington, Washington, DC, Zambiaadmin

August 31, 2022

The IMF Board approves SDR 978.2 million (about US$1.3 billion) 38-month ECF arrangement for Zambia to help restore macroeconomic stability and foster higher, more resilient, and more inclusive growth. Continue reading →

Tag: International Monetary Fund