April 26, 2018 / 12:17 PM / in 6 months

BRIEF-Fitch Says IMF, First Quantum Uncertainty Show Key Zambia Challenges

April 26 (Reuters) - Fitch:

* FITCH SAYS IMF, FIRST QUANTUM UNCERTAINTY SHOW KEY ZAMBIA CHALLENGES

* FITCH SAYS DISPUTE OVER TAX BILL PRESENTED TO MINING COMPANY FIRST QUANTUM MINERALS LTD. COULD DISCOURAGE FOREIGN INVESTORS

* FITCH SAYS AN IMF PROGRAMME WOULD SUPPORT FISCAL ADJUSTMENT AND MAKE ADDITIONAL SOURCES OF LONG-TERM EXTERNAL FINANCING AVAILABLE TO ZAMBIA

* FITCH SAYS IMF UNCERTAINTY SHOW KEY ZAMBIA RATING WEAKNESSES OF WEAK PUBLIC FINANCES AND HIGH COMMODITY DEPENDENCE

* FITCH SAYS HOW DISPUTE RELATED TO FIRST QUANTUM IS EVENTUALLY RESOLVED MAY HAVE AN IMPACT ON ZAMBIA’S INVESTMENT CLIMATE

* FITCH SAYS THINK ZAMBIAN REVENUE AUTHORITY WILL APPLY PENALTIES AND INTEREST AT A LOWER LEVEL TO FIRST QUANTUM THAN INITIALLY ASSESSED

* FITCH SAYS THINK ZAMBIAN GOVERNMENT WILL SEEK TO AVOID JEOPARDISING ITS KEY FOREIGN EXCHANGE EARNING INDUSTRY AND A MAJOR SOURCE OF EMPLOYMENT

* FITCH SAYS ZAMBIA’S OTHER SOVEREIGN RATING WEAKNESSES INCLUDE POOR POWER PROVISION AND TRANSPORT INFRASTRUCTURE TO ZAMBIA’S COPPER BELT Source text for Eikon: Further company coverage:

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