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Zambia

Over 100 experts call on BlackRock to cancel Zambia’s debt

17 September 2022 - by Collective

Over 100 economists and development experts have called on BlackRock and other creditors to cancel a significant amount of Zambia’s debt. In an open letter released today, the signatories – including Jeffrey Sachs, Jayati Ghosh, Philip Alston, Raj (...)
IMF Deal: Cry, My Beloved Zambia

8 September 2022 - by Grieve Chelwa

The International Monetary Fund (IMF) yesterday published the conditions attached to the newly agreed programme with the Zambian government. The conditions are incredible, unbelievable, heartless and basically make for very sad reading. They are (...)
Left in the lurch

Debt and Covid-19 in Ecuador, Kenya, Pakistan, the Philippines and Zambia

3 May 2021 - by Eurodad

This series of articles has been produced by Eurodad in collaboration with our global partners on the implementation of the Debt Service Suspension Initiative (DSSI), complementing and updating the report “Shadow report on the limitations of the (...)
Haemorrhaging Zambia: Prequel to the Current Debt Crisis

25 November 2020 - by Andrew M. Fischer

Following a stand-off with commercial creditors and protracted but unresolved negotiations with the IMF, Zambia defaulted on its external sovereign debt on 13 November this year. While most commentary has focused exclusively on the government’s (...)
Zambia edges towards debt default, but bondholders could make millions

3 November 2020 - by Tim Jones

Zambia will go into debt default on the 14th November if a resolution is not reached with their private creditors following a missed interest payment in October. The southern African country has requested a six-month extension on interest (...)
Zambia, Debt and Covid-19

28 September 2020 - by Afrodad, JCTR

The pandemic has had a devastating impact on the living conditions of the population of Zambia. Debt relief with private creditor participation is required now to ensure the country can boost its Covid-19 response and support a sustainable (...)
Poor countries cut public spending, debt payments trebled

17 January 2020 - by Jubilee Debt Campaign

Figures calculated by Jubilee Debt Campaign from IMF and World Bank data show that growing debt burdens are contributing to public spending cuts. For the 15 countries spending over 18% of revenue on debt payments, 14 saw public spending cuts (...)
China to take over Zambian international Airport for debt repayment default; neocolonialism?

11 September 2018 - by Richard Krah

Signing a contract with China is like, ascribing to the boiling frog effect; a fable describing a frog being boiled alive slowly. If you drop a frog suddenly into boiling water, it will jump out, but if you put that same frog in a vessel of (...)
Out of Africa: Tax evasion, capital flight and debt

28 April 2014 - by John Weeks

Though thoroughly documented, the fact that illegal capital flight and tax evasion far exceed inflows of development assistance and direct investment for sub-Saharan countries is rarely noted in the mainstream media. Even modest steps toward (...)
G8 and IMF Hinder Aid for Zambia While Vultures Attack
Zambia: Debt Reduction Doesn’t Guarantee Debt Sustainability - World Bank

5 September 2006 - by Mwila Nkonge

DEBT reduction is insufficient for debt sustainability, the World Bank has noted. Article by Mwila Nkonge published in The Post (Lusaka).
Zambia: Building Consciousness Against IMF Policies

5 April 2006 - by The Post

Everything in life seems to have its own time. Who could imagine a representative of the Zambian business community criticising the policies of the International Monetary Fund (IMF), World Bank and other multilateral institutions? For many (...)
Gender Implications of Bank Privatization in Developing Countries

6 May 2003 - by Sara Hlupekile Longwe

It is now common, in developing countries, that the IMF and World Bank make privatization of economic enterprises a pre-condition for balance of payments support, and for development aid.