Zambia needs austerity measures, says IMFpublished at 12:29 Greenwich Mean Time 18 March 2016
The International Monetary Fund says that Zambia's government is committed to austerity measures to rein in the country's budget deficit.
An IMF team has just finished its visit there and says in a statement that the "current levels of the budget deficit [are] unsustainable".
It also says that reducing energy subsidies will be key to cutting back on government spending.
The IMF says that Zambia's economy has suffered because of low commodity prices and reduced rainfall, which has affected the harvest.
But it adds that prospects are brighter in the medium term as structural reforms kick in.