Zambia - A Test Case for the International Monetary Fund

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Zambia defaulted on its foreign debt in 2020 after borrowing heavily from China. The bailout is significant because it may be a test case for the IMF. It'll likely have to respond to a wave of countries that took money from China, now can't pay back their debts.

The EU is considering a windfall tax for energy companies, Zambia’s IMF bailout is a test for countries that have defaulted on Chinese debt, and US regulators are cracking down on bankers’ use of messaging apps.

Mentioned in this podcast:

EU plans windfall tax to counter ‘astronomic’ energy bills

Zambia’s $1.3bn IMF bailout to test how China handles defaults

Wall Street’s $1bn messaging ‘nightmare’

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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