The confirmation this week that Zambia requested an IMF funding program is a positive step, which is likely to improve the chances of a wider debt restructuring deal with external creditors. Meanwhile, the international community is seeking to step up financial pressure on Ethiopia over human rights violations, which could destabilise the country’s fragile balance sheets. And in South Africa, the risk of a fresh downturn is rising as the government is battling to curb a second wave of COVID-19.
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