Zambia’s IMF Bailout Comes With Painful Conditions

Zambia’s IMF Bailout Comes With Painful Conditions
A woman sweeps outside her house in Lusaka, Zambia, Aug. 14, 2021 (AP photo by Tsvangirayi Mukwazhi).

Zambia has agreed to a $1.3 billion loan with the International Monetary Fund that is intended to bolster the debt-laden country’s macroeconomic stability. But the agreement’s conditions are evoking fears in Zambia and elsewhere across Africa of the debt crises of the 1980s and 1990s, and are likely to be unpopular with Zambians.

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