By AARON CHIYANZOTHE Economist Intelligence Unit (EIU) has predicted that copper prices will begin to increase by 2020 and in turn lead to appreciation of the Kwacha against the dollar by next year.The unit stated in its Political and Economic Outlook Report ending March 28, 2020, that the Kwacha’s pace of depreciation will slow in 2021 as copper prices recover from their 2020 fall and transit routes normalise.It states that amid rising inflation and the widespread departure of foreign investors fuelled by a growing sovereign debt risk and the collapse of international commodity prices in 2020, as well as some disruption to export routes because of the Coronavirus, the kwacha now would depreciate heavily against the US dollar.“The Kwacha will begin to appreciate against the dollar, to an average of K14.10 per US$1 in 2024 amid continuous copper price increases from 2020, peaking at US$314/lb in 2024,” the unit stated.And the unit stated that economic […]
Copper prices to increase, predicts EIU
