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IMF predicts Zambia economy to shrink by 5% due to Covid-19, drought

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Like other southern African states, Zambia has since 2019 grappled with one of the worst droughts in decades after months of erratic rainfall and record-high temperatures while fighting the spread of the coronavirus pandemic.

The International Monetary Fund made the projection following two weeks of discussions with Zambian authorities.

"The social and macroeconomic impact of the COVID-19 shock, on top of a severe drought last year, will be heavy," the IMF said in a statement. The landlocked country has so far recorded nearly 2,000 coronavirus cases and 42 deaths.The IMF had in June warned that coronavirus could further weaken sub-Saharan Africa's ability to adapt to climate change, as measures to contain the pandemic stretch limited resources.

 

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