Kwacha depreciation negatively affecting local SMEs
• The continuous free falling depreciation of the Kwacha against major convertibles is quickly turning into a serious business nightmare.• Local small and medium businesses
Category : Economy
Kwacha hits K21 mark, threatens economic recovery
• The continued depreciation of the Kwacha is becoming of concern.• It threatens the recovery in terms of economic activity seen in the last two
Protracted debt restructuring continues to exert pressure on Zambian Kwacha
• This has put Zambia in a very difficult situation.• Investors are looking at the protraction of the debt restructuring process as a hindrance to
JCTR February food basket rises by K230.75
• The upward movement in the basket is attributed to increased prices in food items.January saw an increase in mealie meal prices.• JCTR remains concerned
Banks posted significant rise in profits in 2021, 2022 – BoZ
• Over 50 percent of that is coming from investment in government securities.• Part of the big investment in government securities had come during the
Zambia failing to finance social sectors owing to huge debt stock – Economist
• If the country is able to restructure its debt, most of the available resources will go towards financing the social sectors.• China’s positive response
Debt restructuring discussions still going on-VEEP
• Discussions are going on to try and come to a conclusion.• Zambia does not negotiate with the G20 but International Monetary Fund official creditors.•
Kwacha continues on back foot
• The recent bond auction by Bank of Zambia indicates that only about 37% was realized from the targeted K2.6 billion.• This is a true
February inflation rises to 9.6%
• Annual Inflation rate for the month of February 2023 has increased to 9.6 percent from 9.4 percent recorded in January, 2022.• This means that
Kwacha expected to continue weakening
• The Kwacha has continued to depreciate against major convertible currencies, the dollar, the Euro, and the Pound.• This is despite the Central Bank intervening