Editing Economy of Zambia (section)

=== 2011–2020 ===
In September 2011, the [[social democrat]], [[Michael Sata]] led the [[Patriotic Front (Zambia)|Patriotic Front]] (PF) to victory with a vow to improve conditions for their Zambian employees.<ref>[https://web.archive.org/web/20120522143846/http://blogs.voanews.com/breaking-news/2011/09/23/zambia-swears-in-opposition-leader-as-new-president-5/ "Zambia Swears in Opposition Leader as New President"], VOA News, 25 September 2011.</ref> Though known to previously oppose Chinese investment, he declared his change in perspective prior to his election victory.<ref>Shapi Shacinda, [http://www.int.iol.co.za/index.php?set_id=1&click_id=84&art_id=nw20080908120911204C230040 "Sata warms to Chinese investment in Zambia"], Reuters, 8 September 2008.</ref> Sata died on 28 October 2014 and was succeeded by [[Edgar Lungu]]. The period, saw an infrastructure boom with the development of the [[Kafue Gorge Lower Power Station]], two multi-purpose stadiums, [[Levy Mwanawasa Stadium]] and [[National Heroes Stadium]], expansions of the [[Kenneth Kaunda International Airport]], the [[Harry Mwanga Nkumbula International Airport]] and the [[Simon Mwansa Kapwepwe International Airport]], and the Pave Zambia 2000 project<ref>{{Cite web |last=Lusaka Times |date=16 January 2013 |title=President Sata to launch pave Zambia 2000 project to deal with unemployment |url=https://www.lusakatimes.com/2013/01/16/president-sata-to-launch-pave-zambia-2000-project-to-deal-with-unemployment/ |access-date=25 April 2022 |website=lusakatimes.com}}</ref> intended to create and repair major urban roads countrywide.

Unfortunately this came at a huge [[debt]] cost that slowed the economy and compounded by corruption and the [[COVID-19]] pandemic resulted in weak [[Gross domestic product|GDP]] growth and a [[recession]] in 2019 and 2020 respectively. Zambia's GDP had shrunk from US$29 billion to US$19 billion and its debt grew from 16% to 140% of GDP from 2010 through 2020.<ref>{{Cite web |last=Lusaka Times |date=14 February 2021 |title=PF has shrunk Zambia's GDP and UPND and its leader HH is not an option to fix the economy |url=https://www.lusakatimes.com/2021/02/14/pf-has-shrunk-zambias-gdp-and-upnd-and-its-leader-hh-is-not-an-option-to-fix-the-economy/ |access-date=25 April 2022 |website=lusakatimes.com}}</ref><ref name=":5" /> In November 2020, Zambia became Africa's first coronavirus-era [[Default (finance)|default]] when it opted to bow out of a US$42.5 million [[Eurobond (eurozone)|eurobond]] repayment.<ref>{{Cite web |last=cnbc |date=23 November 2020 |title=Zambia becomes Africa's first coronavirus-era default |url=https://www.cnbc.com/2020/11/23/zambia-becomes-africas-first-coronavirus-era-default-what-happens-now.html |access-date=25 April 2022 |website=cnbc.com}}</ref>