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image copyrightGetty ImagesZambia is on the brink of defaulting on its foreign debt after it missed a payment of more than $40m (30m) last month.
A so-called grace period will expire on Friday, which would make it Africa’s first country to default on sovereign debt since the coronavirus pandemic.
Zambia was already struggling with its $12bn external debt load.
But coronavirus has aggravated pre-existing financial pressures in the country.
The International Monetary Fund (IMF) said on Friday it was in talks with Zambian authorities about how best to support the country, but its help would depend on Zambia taking steps to make sure …
Read the full article at: https://www.bbc.com/news/world-africa-54928836