Vol 59 No 25 | ZAMBIA Taking the heaviest of tolls 21st December 2018 The leak by a concerned government insider has exposed another costly procurement deal which never went to tender A highly profitable public-private partnership (PPP) for collecting road tolls has been cancelled suddenly after sparking fury at the poor value for money and seeming exploitation of public...
Vol 59 No 25 | ZAMBIA Lungu's to lose 21st December 2018 President Edgar Lungu has got his wish and been given leave by the Constitutional Court to stand for a third term of office. Critics will say he effectively...
Vol 59 No 22 | ZAMBIA Debts and denials 9th November 2018 The Auditor-General documents widespread irregularities while the armed forces defend the purchase of expensive private jets The report of the Auditor-General into the country's public financial management during 2017 has added fuel to the burning controversy over accusations that the government is wasting phenomenal...
Vol 59 No 20 | ZAMBIA A splurge before the squeeze 12th October 2018 As the government goes on another shopping spree, international banks are reassessing plans for fresh lending to Lusaka Israel and Zambia are almost ready to sign a new US$400 million package for high-tech aviation equipment to be funded with a loan from Israel's Hapoalim Bank. The...
Vol 59 No 20 | ZAMBIA A clumsy crackdown 12th October 2018 The death of Vespers Shimuzhila, a University of Zambia student who suffocated when police fired a teargas canister into her room following student demonstrations over unpaid government meal...
Vol 59 No 19 | ZAMBIA Bonds crash as donors cut funding 19th September 2018 Cuts in aid payments are compounding the debt crisis as the government loses credibility after bogus denials President Edgar Lungu's sacking on 19 September of Minister of Community Development and Social Services Emerine Kabanshi – at the centre of the row over the fraud in... READ FOR FREE
Vol 59 No 18 | ZAMBIA Graft worsens cash squeeze 14th September 2018 Fears that embezzlement has hit government departments have caused donors to suspend payments Western donor governments have placed key assistance programmes under heavy scrutiny as evidence emerges of wide-scale corruption in three important government departments, Africa Confidential has learned. Payments by...
Vol 59 No 18 | ZAMBIA Bonds, bills and ever bigger debts 3rd September 2018 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...
Vol 59 No 13 | ZAMBIA Putting on the brakes 29th June 2018 The government is taking steps to curb the ballooning debt, but will they be enough to make an IMF programme possible? The goal is to bring the risk of 'debt distress' from 'high' to 'moderate'. Even this modest target will probably elude Finance Minister Margaret Mwanakatwe because the government's...
Vol 59 No 12 | ZAMBIA Squeaking in and cutting back 15th June 2018 The Patriotic Front is crowing over its narrow defeat of the United Party for National Development (UPND) in a by-election in the swing constituency of Chilanga, just outside...
Vol 59 No 11 | ZAMBIA Debt spike threatens reserves 1st June 2018 The uncontrolled borrowing by the Lungu circle is growing too large to cover up Having said it was certain of its figures, Zambia's Ministry of Finance has once again revised its external debt upwards, from US$8.7 billion to $9.1 bn. While its...
Vol 59 No 10 | ZAMBIA A swirling fog of debt 18th May 2018 The government is suspected of dishonestly reporting its debts, as it chases every last ounce of credit Creditors, investors and the opposition believe President Edgar Lungu's management of national finances is plunging the country into a debt crisis. The Ministry of Finance issues desperate-sounding statements...
Vol 59 No 8 | ZAMBIA As the debts balloon, Lungu avoids the spotlight 20th April 2018 The finance minister starts crisis talks with the IMF after the government fails to convince creditors As leaders of the 53 Commonwealth member states gathered in London for the 15-17 April summit, one African head of state was conspicuously absent. Amid growing concern that... READ FOR FREE
Vol 59 No 7 | ZAMBIA Into the valley of debt 6th April 2018 Edgar Lungu's government has no plans to stop spending, but the amount that it owes is rapidly growing beyond control Demands for clarity on Zambia's national debt are intensifying, as the standoff with the International Monetary Fund continues and senior figures in government fear a Zimbabwe-style economic crisis...
Vol 59 No 3 | ZAMBIA Judges to rule on Lungu's future 26th January 2018 Opposition MPs accuse the President of putting an unqualified judge on the Constitutional Court The Constitutional Court was ordered to resume hearings on whether or not President Edgar Lungu may serve a third term of office on 30 January. But Court president...
Vol 59 No 2 | ZAMBIA Lungu's costly power play 25th January 2018 Extending his time in office is the President's chief priority although a debt crisis looms amid volatile party realignments Whether or not President Edgar Lungu manages to convince the Constitutional Court that he is entitled to a further term in office when his current one ends in...