Zambia secures $1.3bn IMF bailout
The International Monetary Fund has approved a $1.3bn loan to Zambia to support the country which has been hit hard by economic woes.
Zambian President Hakainde Hichilema is working to rebuild the country's economy after it defaulted on foreign debts in 2020.
The landmark deal with the International Monetary Fund is dependent economic reforms.
Information and publicity secretary, Joseph Kalimbwe, from the ruling UPND Party told Newsday, "This is something that we welcome across the country, everyone's excited, and we are hoping that Zambia can now begin to draw a road map of where we want to go economically".
Photo: Two women carrying bags of beans and maize meal in Simumbwe, Zambia Credit: Guillem Sartorio / AFP
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