Story from the Open Zambia Website
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