By Zondwayo DumaIN 2017, Global Economist and former Publish What You Pay (PWYP) Zambia coordinator, Mtwalo Msoni, challenged the developing world to change its focus from merely focusing on revenue collection to include effective utilization of revenues collected from natural resources, to contribute to the improvement of people’s lives.The recommendation was drawn from the fact that Zambia has over the years recorded copper price booms and yet poverty levels remained elevated at an average of 60%.Zambia, being dependent on copper for its foreign exchange and exports has been affected by world happenings.Towards the end of 2019, the advent of the coronavirus pandemic reduced consumption of copper by China resulting in dwindling copper prices, which led to Zambia recording a reduction in the performance of various economic indicators. Inflation broke its upper bound of 8% in 2019, and continued rising, recoding a record high of 24.6% in July 2021. The exchange rate also depreciated against major […]
Sustaining Growth in a Post-Copper Price Boom
