World Coronavirus Dispatch: Zambia's default sparks fears of debt tsunami

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Zambia's default sparks fears of African debt tsunami

As nations count the economic costs of coronavirus, and international agencies like IMF and G20 look the otherside, Zambia became the first African country to default on its debts after missing payments in October and November. The neighbouring countries are rattled by this development amd fear they too could default on their debt obligations. Global agencies have blamed the country for taking more debt than it can handle. The surge in coronavirus meant that zambia had to divert its scanty resources to the fragile healthcare system. Officials are now debating whether its