ZAMBIA, just like other members of the global community, will need to prepare adequately for the economic downturn that is likely to spiral from the coronavirus disease (COVID-19) that is raging across the globe. Firstly, it is important to examine the immediate negative effects that have choked the economic outlay of the country thus far. Undoubtedly, inflation rate will during this period be racing upwards from the already frightening level of 13.9 percent recorded in February and 12.5 percent in January this year. The exchange rate is not impressive either at almost K17-$1 while commercial bank lending rates are unreachable for the average private sector. Zambians ought to look at the current economic fundamentals and make a forecast bearing in mind that the COVID-19 is still raging. The second important point to examine is the effect of lockdown implemented by many countries, including economic giants in the West and Africa’s economic nerve centre South Africa. […]
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