Zambia

May 2007 | Ratings Update

The recent decision by a British judge to order former Zambian president Frederick Chiluba and 19 others to pay back US$46mn stolen while in office is landmark event in our view. The issue of odious capital flight is one of significant pertinence for a number of African countries, and this could set a precedent for further similar rulings in the future. According to the South African Institute of International Affairs this is the first known case against a head of state whether past or present. For Zambia, the ruling comes against the backdrop of President Levy Mwanawasa's own anti-corruption drive,

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