IMF says corruption has inflated costs of high-profile projects in Zambia

The International Monetary Fund said on Tuesday that corruption had inflated the cost of numerous high-profile tenders and construction projects in Zambia.

“Enormous financial resources invested in infrastructure projects, such as road construction, provided avenues for corruption, especially in the award of tenders, where political connections allowed members of the elite to bend the rules and access to lucrative contracts,” the IMF said in a report.

It added that corruption increased from 2009 to 2021 and “became particularly entrenched and institutionalized during 2016-2021.”

This story is for NewsDay subscribers.