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Vol 63 No 23

Published 17th November 2022


Loans before haircuts

Finalising a US$1.3 billion loan with the International Monetary Fund in September was the easy part of Zambia's bid to avoid insolvency, according to analysts and officials from the Fund. They have indicated that significant debt restructuring or haircuts will need to be agreed with private and bilateral creditors, even if President Hakainde Hichilema manages to successfully push through the spending cuts demanded by the IMF.

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