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Zambia’s debt default imminent, warns Standard & PoorsSTANDARD and Poors (S&P) Global Ratings have lowered its long-term foreign and local currency sovereign credit ratings on Zambia to ‘CCC-‘ from ‘CCC’ following the Zambian government’s request to suspend Eurobond debt interest payments. According […]
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Ng’andu unveils K119.6bn 2021 budget, as debt servicing goes upFINANCE Minister Dr Bwalya Ng’andu has announced that government will spend K119.6 billion in 2021, with more than K27 billion of that amount due to be spent on servicing Zambia’s external debt. And Dr Ng’andu […]
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Zambia headed for loan default, with little prospect of recovery – FitchFITCH Ratings has downgraded Zambia’s credit rating to ‘C’ from ‘CC’, meaning the country is in imminent default with little prospect of recover. Fitch has also downgraded Zambia’s rating on its senior unsecured foreign-currency bonds, […]
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Kwacha poised for further losses after Kalyalya’s dismissal, warns HamaunduDR Denny Kalyalya’s dismissal is likely to trigger a sharp kwacha depreciation because there will be a severe lack of confidence in the country’s economy, says financial market analyst Maambo Hamaundu. President Edgar Lungu sacked […]
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Yaluma fires Fisho Mwale as ZDA board chairCOMMERCE Minister Christopher Yaluma has fired Zambia Development Agency (ZDA) Board Chairperson Fisho Mwale with immediate effect for unknown reasons. Confirming the development in a brief interview, Monday, Mwale, who is also a Yalelo Limited […]
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Reduced MPR not enough to revive economy – KanyamaGOVERNMENT still needs to implement strong fiscal policy where the budget deficit and high levels of inflation are kept under control if the Bank of Zambia’s (BoZ) relaxed monetary policy is to have any meaningful […]
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Kwacha nears K19.50 per dollarTHE kwacha has continued to sharply depreciate and is expected to hit K19.50 per dollar owing to continued high demand for the greenback on the local market, compounded with little supply. According to financial market […]
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Inflation marginally drops to 15.8%THE annual rate of inflation has marginally decreased to 15.8 per cent in July, down from 15.9 per cent recorded in June, mainly induced by price decreases in food items, according to the Zambia Statistics […]
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Inflation slows to 15.9%THE annual rate of inflation has decreased to 15.9 per cent in June, down from 16.6 per cent recorded in May, mainly triggered by price decreases in food items, according to the Zambia Statistics Agency […]
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COVID-19 slashes mining revenues by 30%MINING companies’ revenues in Zambia have drastically fallen by around 30 per cent over the three-month period, February-April 2020, mainly triggered by the deep impact the COVID-19 pandemic has had on slashing copper earnings. According […]
