Zambia expects economy to grow by 4% in the medium term, says president

Zambia expects economy to grow by 4% in the medium term, says president

Zambia’s President Hakainde Hichilema will present his national statement as part of the summit of world leaders at the United Nations Climate Change Conference (COP26) in Glasgow, Scotland, UK on Nov. 1, 2021. Andy Buchanan/Pool via REUTERS

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LUSAKA, Sept. 9 (Reuters) – The Zambian government expects its economy to grow at 4% a year in the medium term and is focused on solving the country’s debt crisis, President Hakainde Hichilema said Friday.

The economy has been ravaged by mismanagement and COVID-19.

In late August, the International Monetary Fund approved a three-year $1.3 billion loan to Zambia, a crucial step in the South African country’s quest to restructure its debt. read more

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Reporting by Chris Mfula; Writing by Bhargav Acharya; Edited by John Stonestreet

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