Zambia Trying to Avoid IMF Runs Out of Options as Kwacha Slumps

Updated on
  • Zambian currency is world's worst performer this quarter
  • Widening deficit, rising yields may force government's hand

Zambia Minister of Finance Alexander Chikwanda, left, speaks with Ivory Coast President Alassane Ouattara.

Photographer: Issouf Sanogo/AFP/Getty Images

Zambia’s Finance Minister Alexander Chikwanda is no admirer of the International Monetary Fund. With the nation’s currency plunging to a record and yields on foreign bonds approaching 11 percent, he may soon have to change his mind, according to Rand Merchant Bank.

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