IMF urges Zambia to sell Zamtel

Thursday 29 September 2016 | 10:19 CET | News
The International Monetary Fund (IMF) says its ready to disburse USD 1.2 billion to the Zambian government on the condition that it sells Zambia Telecommunications Company (Zamtel), reports ITWeb. Fiscal deficits as a result of fluctuating global copper prices have hit the country's economy and forced authorities to seek help from the IMF. The IMF has made the sale of Zamtel a prerequisite because of the substantial amounts of money being used to try to recapitalise the loss-making operator.

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Categories: Mobile & Wireless
Companies: Airtel / Airtel Zambia / MTN Zambia / Zamtel
Countries: Zambia
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