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Vol 59 No 18

Published 14th September 2018


Zambia

Bonds, bills and ever bigger debts

The government has all but expelled an IMF official, as the debt continues to spiral and the role of Chinese projects in it raises more concern

Having allocated US$500 million to external debt service this year, the government's liquidity crisis drags on as relations with donors and international financial institutions plummet. Lusaka asked the International Monetary Fund to withdraw its resident representative Alfredo Baldini on the grounds that he was supposedly 'spreading negative talk' among the donors, a source in Lusaka said. The rift is a blow to any chance – practically non-existent though it already was – of a deal.

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