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Vol 60 No 9

Published 3rd May 2019


Zambia

Treasury in the red

The liquidity problems are getting worse and state asset sales are looking more likely as a last resort to avoid debt default

The lavish spending and borrowing of President Edgar Lungu's government is starting to catch up with it. Africa Confidential has learned that in March, it had to raid the state pension fund, the National Pension Scheme Authority (NAPSA), to pay overdue February salaries for public service employees.

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