Zambia: Economic test looms for next administrationZambia has managed to stabilize its economy after becoming the first sovereign to default on its debt obligations during the Covid-19 pandemic. The economy is projected to expand 5% in 2026, driven by investment in copper mining and a bumper maize harvest. Several private commercial lenders are yet to give the country debt treatment, keeping Zambia’s borrowing costs high. The Houthis who rule half of Yemen have announced a blockade on oil exports by Saudi Arabia. With the Strait of Hormuz effectively closed, shutting down Bab al-Mandeb as well could block 25% of the world’s oil and gas supply.