The Take With MJ

In November 2020, Zambia became the first African country during the COVID - 19 pandemic to default on interest payments on its $42.5 million Eurobond repayment.

What does this mean for Zambia? What are the economic and social implications?

Dambisa Moyo, in her book ‘Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa’ argues that :

“Africa is addicted to aid. For the past sixty years, it has been fed aid. Like any addict it needs and depends on its regular fix, finding it hard, if not impossible, to contemplate existence in an aid-less world. In Africa, the West has found its perfect client to deal with.”

Could this be true?

Does this mean that even when African states manage to sign their way out of debt they will still put themselves in positions of having to accrue other debt?

In his YouTube program THE TAKE, MJ explains the story of Zambia`s Debt.

Click here to watch THE TAKE by MJ