Zambia under debt stress, says IMF

BUUMBA CHIMBULU THE International Monetary Fund (IMF) has sounded alarm over Zambia’s mounting spending pressures, warning that rising debt service obligations and escalating social spending needs will strain the country’s finances this year. Finance and National Planning Minister, Situmbeko Musokotwane, recently said Government had restructured 90 percent of its US$13.34 billion external debt, thereby reducing […]