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Vol 57 No 12

Published 10th June 2016

Hangover cures in Lusaka

As countries struggle with growing debt and vanishing credit lines, Africa's bankers call for bold new investments

Zambia's travails offered an emblematic backdrop for the annual meeting of the African Development Bank (AfDB) in Lusaka on 23-27 May. After a lengthy spending spree financed by record earnings from copper exports, the country shows all the signs of a serious hangover: of mounting debt and vanishing credit lines. Back in 2003, as Asian demand ramped up Africa's commodity boom, Zambia negotiated a debt relief deal with the World Bank and International Monetary Fund.

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