Zambia secures vital preliminary bailout deal with IMF

Zambia reached a staff-level agreement with the International Monetary Fund over a bailout that will pave the way for negotiations with creditors to restructure about $16bn in external debt.

“This agreement is based on the authorities’ plans to undertake bold and ambitious economic reforms,” Allison Holland, the IMF’s mission chief for Zambia, said in an emailed statement. Hakainde Hichilema, who was elected in August, has vowed to bring the state’s finances under control, with IMF board approval for the loan in the first quarter of 2022 seen as key to those plans.

...conditional bailout deal with the IMF? How one wishes that some economy driving departments are/were not forced to adopt the privatisation/free trade economic model that mandates IMF multinational corporations take up to 60% control of their operations. Just an observation!

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