World Economy

Zambia Under Stress

Zambia Under StressZambia Under Stress

The International Monetary Fund says Zambia’s economy is under stress, NewsNow reported. IMF, which sent a team of experts to Zambia to review the country’s economy, stated that the pressures on the economy had not only reflected the impact of external shocks but also waning market confidence. Tsidi Tsikata, who was the team leader of the group, observed that low copper prices and a severe electricity shortage were straining Zambia’s economic activity. “Moreover, domestic and external financing conditions have tightened markedly with increased interest rates on Zambian government debt.”