ZAMBIA’S macroeconomic environment is steadily looking up against the backdrop of lucrative copper prices on the international market and the maize bumper harvest.The gold reserves at the Bank of Zambia are also building up.In particular, the exchange rate has stabilised and subsequently improved, what with promising parameters set in the Economic Recovery Programme (ERP) aimed at turning around the ebbing economic fortunes.Yes, copper prices have hit a record high of $9, 521 per tonne on the London Metal Exchange from a dim level of $4, 745, thereby significantly boosting the export earnings and dollar liquidity in the financial market.Some critics have insisted that the appreciation of the Kwacha from K22.64 to K21.39 is artificial, yet they have not made reference to the effect of the current attractive copper prices on the economy, bearing in mind that the red metal is the major export earner for the country.To put this into context, the sustained strong export […]
KWACHA BOOST REAL
