9.6 C
New York
April 20, 2024
Africa Business Debt relief Economics International Monetary Fund (IMF) news World news Zambia

Lenders urged to cancel Zambia debt as country faces economic collapse

Economists accuse bondholders of standing to make huge profits at the expense of the crisis-hit country

More than 100 economists and academics have urged international lenders to crisis-stricken Zambia to write off a significant slice of their loans during financial restructuring talks this month.

Zambia is seeking up to $8.4bn (£7.3bn) in debt relief from major lenders, including private funds run by the world’s largest investment manager, BlackRock, to help put its public finances back in order.

Continue reading…

Related posts

Twenty-year search for Rwanda genocide suspect ends in Zimbabwe grave

TheWorldsNews

Small boat asylum seekers undeterred by Rwanda plan, survey finds

TheWorldsNews

UK to announce more monkeypox cases as efforts ramp up to contain outbreak

TheWorldsNews

Pin It on Pinterest

Share This