Debt-ridden Zambia secures $1.3 billion in IMF bailout

Debt-ridden Zambia secures $1.3 billion in IMF bailout

By Obert SIMWANZA The International Monetary Fund has approved a $1.3 billion loan to debt-ridden Zambia to help it restore fiscal stability while urging the country to battle corruption. In 2020, as the Covid-19 pandemic battered Africa, Zambia became the first...
Debt-ridden Zambia secures $1.3 billion in IMF bailout

IMF agrees to $2.9bn bailout for bankrupt Sri Lanka

The International Monetary Fund said Thursday it had reached a staff-level agreement to support bankrupt Sri Lanka with a $2.9 billion bailout spread over four years. Financial assistance from the international lender of last resort is conditional on a plan to...
Ghana IMF loan outcry pressures government over economy

Ghana IMF loan outcry pressures government over economy

By Kent MENSAH Ghanaian trader Mohammed Biney was already struggling when the government passed a new tax on electronic money transactions this year to try to revive the economy. With Ghana now buckling under nearly 30 percent inflation, the Accra shoe seller was...