The International Monetary Fund said on Tuesday (Jan. 10) that corruption had inflated the cost of numerous high-profile tenders and infrastructure projects in Zambia. At the request of local authorities, an IMF interdepartmental Governance Diagnostic Assessment mission conducted last year a study focused on governance weaknesses and corruption vulnerabilities. However, those with particular macroeconomic impact were found in areas including public financial management, granting and managing contracts in the mining sector. The IMF diagnostic says corruption became particularly institutionalized during 2016-2021 period. Zambia's current leader vowed, upon his election two years ago, to show "zero tolerance" for graft.

Source: Ethiopian News January 11, 2023 02:30 UTC