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Markets Optimistic Hichilema Will Resolve Zambia’s Debt Crisis

President elect Hakainde Hichilema gives a press briefing at his residence in Lusaka, on August 16, 2021. Patrick Meinhardt / AFP

Global financial markets are telegraphing their relief that Zambian opposition leader Hakainde Hichilema decisively won last week’s presidential vote and that he’ll now have the necessary mandate to bring an end to the country’s worsening debt crisis.

Both Zambia’s kwacha and dollar-denominated bonds have been rallying this week in the hope the President-elect will be able to quickly produce a financial recovery plan that will pave the way for an IMF relief package.

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