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.
(Reporting by Chris Mfula, Editing by Franklin Paul; Writing by Tanisha Heiberg)
