Zambia Seeks $900 Million as Drought Set to Halve Growth
- Economic growth to slump to about 2.5% this year from 5.2%
- Power shortage threatens ambitions to boost copper output
This article is for subscribers only.
Zambia needs about $900 million this year to deal with its worst drought on record in parts of the country that’s wiped out crops and is set to cut economic growth by more than half, Finance Minister Situmbeko Musokotwane said.
The nation that’s normally a food exporter of corn, a staple, will harvest about two-thirds less of the crop this year than it did in 2023, he said in an interview Tuesday in Washington. President Hakainde Hichilema made a formal appeal for emergency help later Tuesday.