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Hichilema May Find Out Getting Elected Was the Easy Part, Fixing Zambia’s Debt-Ridden Economy Will Be a Lot Harder

by Eric Olander
Newly elected Zambia President Hakainde Hichilema waves at the crowd after taking oath of office at the Heroes Stadium in Lusaka on August 24, 2021. opposition movements. Salim DAWOOD / AFP

A peaceful transfer of power took place in Lusaka on Tuesday when opposition leader Hakainde Hichilema (photo) became Zambia’s seventh president in the post-colonial era. President Hichilema made clear right from the start that the economy, specifically reducing the country’s heavy debt load, will be his government’s top priority.

“Over the last decade…, the debt situation has become unsustainable,” the president told the crowd during his inaugural address. “We will pay special attention to lowering the fiscal deficit, reducing public debt, and restoring market confidence in our country.”

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