Zambian Opposition Leader Hichilema Takes Early Lead in Presidential Vote

LUSAKA - Zambian opposition leader Hakainde Hichilema took an early lead in the country's presidential election over long-time rival and incumbent Edgar Lungu, according to first results issued by the electoral commission on Saturday.

Lungu, 64 and in power since 2015, faces a potentially tight contest against Hichilema - known as "HH" - a businessman who has criticized the president's management of an economy in turmoil. Investors are closely watching the outcome of Thursday's election: the southern African country is highly indebted and suffered the continent's first pandemic-era sovereign default in November. International Monetary Fund (IMF) support, already broadly agreed, is on hold until after the vote. So too is debt restructuring seen as an early test of a new global plan to ease the burden on poor countries.