Browsing: Zambian Kwacha

Zambia has dealt with the legacy of years of economic mismanagement, with an especially inefficient public investment drive.  Zambia has been in debt distress. Therefore, the country needed a deep and comprehensive debt treatment to place public debt on a sustainable path.…

Zambia is Africa’s largest copper producer, which is one of the reasons it has one of the strongest currencies on the continent. The country possesses abundant natural resources, and because copper is the most prevalent metal, copper mining is carried out on a massive scale. This provides Zambia with a significant rise in foreign currency earnings from the sale of metals to other countries.

Bscholarly notes that the value of a currency is significant because it determines the economic performance of a country. This has a direct impact on a currency’s demand on the global market. Exchange rates compare one currency to another and provide an overview of a currency’s strength in the global marketplace. According to financial analysts, factors like interest rates, economic policies, and stability determine the strength of any currency.

Mining liberalization, a debt restructuring programme following default on debt repayments in 2020, and high commodity prices …

A dollar is trading at 16.67 Kwacha and 13.35 Seychelles rupees as at December 31. Both countries were among the three worst performers in 2020.
This has fueled speculation from corporate participants and currency retail traders on when exactly to exit foreign currency risks for dollar hoarders or whether to buy the Kwacha as a safer haven store for value.
President Hichilema’s government is in the process of reworking as much as $17 billion in external public debt. He has submitted an endorsement request to the IMF as his administration advances talks with creditors from US$3 billion in Eurobond holders to US$5.8 billion owed to the Republic of China. …