Lukanyo Mnyanda Editor: Business Day

Zambia’s default, the first by an African country since the Covid-19 outbreak, is a warning that countries in debt distress should seek help from creditors sooner rather than later, IMF MD Kristalina Georgieva said.

Speaking at the Financial Times’s Africa Summit on Monday, Georgieva said the case of the Southern African country was the first one where "insolvency is knocking at the door".

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