Skip to content
Subscriber Only

Zambia Sees Swift Subsidy Cuts in $1.2 Billion IMF Deal

  • Government targeting conclusion to IMF talks this year
  • Election delayed negotiations that will begin after vote
Updated on

Zambian President Edgar Lungu has pledged to remove or reduce energy and agricultural subsidies as part of a loan deal with the International Monetary Fund that could top $1.2 billion, his spokesman said.

“Straight away when the IMF program begins, subsidies will significantly go down in the energy sector,” Amos Chanda said in an interview on Wednesday. “The president has promised to move rapidly to either completely do away with subsidies or progressively reduce them.”