Zambia has been approved for a $1.3 billion (£1.1 billion) loan from the International Monetary Fund.
It stated that it would assist Zambia in restoring economic stability and promoting higher and more inclusive growth.
- IMF Executive Board Concludes 2022 Article IV Consultation with Botswana
- Today, the Finance Minister will present the mid-year budget review; the IMF will be prominently featured.
According to the fund, Zambia has been dealing with years of economic mismanagement, and its growth rates are too low to combat poverty, inequality, and malnutrition.
In exchange, Zambia will have to combat corruption, eliminate fuel subsidies, and improve agricultural subsidies.
