Zambia: Zambia’s Credit Rating Cut by Standard and Poor’s

Story from the Open Zambia WebsiteStandard & Poor’s ratings Chart

Zambia’s credit rating was cut by Standard & Poor’s, which warned of a rapidly widening budget gap and said elections may prevent the government from addressing it.

……………Zambia, Africa’s second-biggest copper producer, has been hit by a slide in prices and has scaled back plans to increase taxes on miners, adding to budget strains. The government has signaled it may sell as much as $2 billion of Eurobonds as it seeks to finance the deficit.  Read More

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