Zambia is first African country to default on debt during Covid. It may not be the last.
A Zambian woman poses for a photo holding produce cultivated on the Jesuit-run Kasisi Agricultural Training Centre. The center promotes organic, ecologically sustainable, no-till farming for small-scale farmers. (CNS photo courtesy Canadian Jesuits International) Jesuits in Africa are calling on the Catholic Church to press for better repayment terms on debt across the region after Zambia defaulted on a $42.5 million Eurobond coupon in November. The default sparked fears of a regional economic crisis and ripple effects on already struggling Zambians because of increased taxation and curtailed...
Source: americamagazine.org