Jump to navigation

Vol 60 No 11

Published 31st May 2019


Little cash, no credit

The liquidity crisis continues while the exchequer has a different kind of problem with liquids to deal with

The government's chronic shortage of cash has resulted not only in late payment of salaries for public servants, but also in a four-week default on a large loan repayment for new equipment for the armed forces, Africa Confidential can exclusively report. Meanwhile, on 23 May the credit ratings agency Moody's downgraded Zambia to a Caa2 negative rating to reflect 'the probability of default over the near term'.

End of preview - This article contains approximately 1376 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.