logo
episode-header-image
Mar 2021
16m 7s

How did Zambia get into so much debt?

Bbc World Service
About this episode

Zambia’s up to its eyeballs in debt.

Late last year, it became the first African country to default on its foreign debt since the Covid pandemic began.

And people across the country have started feeling the pinch: many complain about rising prices and their sudden inability to pay their bills.

But Zambia’s looking for a way out: it’s been talking to the International Monetary Fund, hoping to get some sort of bailout.

How did things get so bad though? And is there an easy way out of this crisis?

Hosted by Alan Kasujja (@Kasujja on Twitter)

#AfricaDaily

Up next
Oct 3
Focus on Africa: Can Botswana continue to depend on its diamond industry?
In an exclusive interview with the BBC's Waihiga Mwaura, Botswana's President Duma Boko, outlines his plan to reduce his country's reliance on the diamond industry amid falling global demand, and how he is pushing for a 0% tariff deal with the US.Guinea is showing signs of econom ... Show More
27m 30s
Sep 12
Focus on Africa: Who is Uganda's Joseph Kony?
The International Criminal Court concludes hearings into war crime charges against the Ugandan rebel leader Joseph Kony and will decide whether he should face trial. But who is Joseph Kony and what are the charges against him? How some South African schools are fighting childhood ... Show More
35m 33s
Sep 9
Focus on Africa: Ethiopia opens huge dam despite outside opposition
Ethiopia opens Africa's largest hydroelectric dam on the Blue Nile river deepening a rift with Egypt and Sudan.Authorities in the US have arrested two suspected leaders of the Cameroon separatists' military wing. We find out more about the charges against the two men, and why Cam ... Show More
31m 49s
Recommended Episodes
Sep 2022
Zambia’s billion dollar bailout sparks economic hope
Zambia has agreed a $1.3 billion bailout loan with the IMF after months of negotiations. We’ll look at what this might mean for the country. Why a community in North-West Cameroon are concerned about a strange smell coming from a crater lake. And Ghanaian-born British Vogue edito ... Show More
28m 30s
Mar 2023
Sri Lanka: Is $3 billion enough to save the economy?
From the BBC World Service: Sri Lanka has been battling economic breakdown for nearly a year. A foreign reserve crisis toppled the country’s president and led to shortages and soaring inflation. Now a $3 billion rescue package has been agreed upon with the International Monetary ... Show More
8m 4s
Mar 2023
Sri Lanka bailout: Will it really get better?
IMF has approved a $3bn bailout package for the bankrupted Sri Lanka. The nation's foreign minister pledged to reconstruct its state-own enterprises and their national airline but it seems like there is still a long road ahead for the island in South Asia, after getting multiple ... Show More
27m 25s
Feb 2022
Debt relief: Who should foot the bill?
There’s a credit crunch facing dozens of the world's poorest countries: billions of dollars are now owed and some countries simply won't manage the repayments. So who should foot the bill? We speak with Sri Lankan businessman, Indika Merenchige, who imports vehicles in to Sri Lan ... Show More
17m 28s
Sep 2022
A focus on the growing issue of global debt
With the IMF saying earlier this month that about 25% of emerging and 60% of low-income countries are having trouble paying their debts, we take a closer look at the scale of national debts around the world. We examine China’s role as creditor for emerging countries and speak to ... Show More
26m 43s
Jun 2021
Zainab Ahmed: Can Nigeria avert financial meltdown?
Africa is going through its first recession in more than a quarter of a century because of the global downturn caused by the Covid pandemic. The economic crisis is being keenly felt in Nigeria, the continent’s most populous country. Its 200 million people are struggling with long ... Show More
23m 27s
May 2023
Ghana to get a $3bn loan from the IMF
The International Monetary Fund has approved a three-year extended credit for the African nation, which will receive an immediate disbursement of about $600 million. We look into the crisis the country is going through and how this funds can help. Also in the programme, we hear t ... Show More
27m 54s
Apr 2022
Sri Lanka's debt crisis
Why is Sri Lanka facing its biggest economic crisis for decades? It's left the population enduring months of power cuts, while essentials are in short supply. How has the country's debt spiralled out of control and what will a debt default mean for ordinary people? We hear from p ... Show More
17m 28s
Feb 2022
The global debt crisis
This month the G20 came under criticism for failing to deliver a promised $100bn of additional funds to poorer countries to help with the economic fallout of the pandemic. Many of these countries suffered a significant financial crunch as their exports dropped while the price of ... Show More
49m 13s