Zambia's finance minister expects economy to contract by at least 3% in 2020

  • 12/11/2020
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LUSAKA (Reuters) - Zambia’s economy is expected to contract by at least 3% in 2020, as manufacturing, retail and wholesale trade, tourism and the travel industry post negative growth rates, Finance Minister Bwalya Ng’andu said on Friday. Zambia became Africa’s first pandemic-era sovereign to default last month after it failed to pay a $42.5 million coupon on one of its Eurobonds.

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