News & Analysis: Zambia

Private lenders need to step up on African debt relief

“The impasse between the G-20 and international financiers has bolstered the position of Chinese lenders, who hold an additional $64 billion of disbursed credits in Africa alone, and who also are pursuing painstaking restructuring talks. Taken together, the position of the Chinese and the financiers could make it harder for African governments to respond to the pandemic.”

via Atlantic Council

Interview with Betty Wilkinson: Financial Stress and Pathways for COVID-19 Resilience in Zambia

Betty Wilkinson, CEO, Financial Sector Deepening Zambia, speaks to COVID-19 Africa Watch about the economic impacts of the pandemic in Zambia and the way her group and others are responding.

via COVID-19 Africa Watch

Accelerating Digital Transformation in Zambia: Digital Economy Diagnostic Report

“The Zambia Digital Economy Diagnostic, a new report developed by the World Bank, finds that Zambia is making significant strides towards the use of digital tools to achieve the social and economic transformation goals set forth in its Vision 2030.”

via World Bank

Emerging Lessons from the COVID-19 Pandemic

“The lesson of this current pandemic is that innovations are happening around the world. But the resources to fund and to scale innovations are not spread evenly. This must be addressed.”

via COVID-19 Africa Watch

Africa and creditors wake up to debt dilemma

“In the tough years ahead, heavy debt burdens could push inflation up and pull growth down. Suppliers sink when the government stops paying its bills, and trade slows with uncertainty. Africa’s debt burden suddenly looms larger.”

via African Business Magazine

Is Africa drowning in COVID-19 debt?

“Our analysis shows that the total debt repayments owed by African countries in 2018 were 1.4 times larger than the budgets that African countries have now put aside to address the effects of COVID19 (which, incidentally, have risen by US$9bn since our last estimate two weeks ago, to US$53bn in total now).”

via Development Reimagined

Interview with Ethel Mwambazi Kandiwo: COVID-19 and the Zambian Media and Advertising Industry

Ethel Mwambazi Kandiwo, Managing Director at BlackDot Media, speaks to COVID-19 Africa Watch about how the pandemic is affecting the media and advertising world in Zambia.

via COVID-19 Africa Watch

Zambia reviews 2020 budget after COVID-19 hits revenue

“Zambia is reviewing its 2020 budget after a reduction in revenue as a result of the COVID-19 pandemic and other factors, Secretary to the Treasury Fredson Yamba said on Thursday. Zambia’s budgeted revenue is estimated to fall short of target by close to 20% as a result of economic adjustments due to COVID-19, the ministry of finance said in April.”

via Reuters

COVID-19: The Impact on China-Africa Debt

“China is widely regarded as Africa’s largest bilateral creditor. The Chinese government, banks and state-owned enterprises are estimated to hold 17 percent to 24 percent of Africa’s external debt. But African countries also owe money to other governments, to multilaterals, and to the private sector. The latter is estimated to hold 30 percent of Africa’s total external debt, upward of $130 billion.”

via The Diplomat

The COVID-19 Crisis and Fiscal Reform in Low-Income Countries

“Policymakers in low-income countries have implemented a range of fiscal measures to provide income support to the households and sectors most affected by the COVID-19 pandemic, made possible by expansionary fiscal policy and international support.”

via Center for Global Development