Page 2 - Christopher Mvunga News Today

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a mission to a country. The views expressed in...

Zambia, Eswatini: Why is Jacob Zuma visiting old exile haunts? Carien du Plessis/News24 Wire Former president Jacob Zuma at the State Capture Commission in Parktown, 16 July 2019. Picture Neil McCartney Recently, several politicians visited him at his home in Nkandla to try to convince him to obey a ConCou...

Zambia default test case for Africa debt relief AFP 2/25/2021 AFP © SALIM DAWOOD President Edgar Lungu has to wrestle with conflicting pressures for economic reform and popular infrastructure projects as Zambia negotiates on debt relief with the IMF Debt-ridden Zambia and the International Monetary Fund (IMF) are locked in difficult talks for a possible bailout, laying the foundation for debt relief under a new framework to help poor nations tackle unsustainable arrears. Th...

Article content LUSAKA — Zambia has scaled back, postponed or canceled projects to reduce the southern African copper producer’s debt exposure as it holds talks to secure a program from the International Monetary Fund, the central bank governor said on Wednesday. Zambia, which became Africa’s first pandemic-era sovereign default late last year, began discussions with the IMF last week and has requested debt relief under a new common framework from the Group of 20 major economies. We apolo...

Zambia became the second country in the world to increase its benchmark interest rate this year as it seeks to bring down “spiraling” inflation that’s at a five-year high.

Central Banking Christopher Mvunga Print this page   The Bank of Zambia hiked its policy rate today (February 17) as policy-makers sought to resist surging inflation without harming the country’s fragile economic recovery. Governor Christopher Mvunga said the monetary policy committee had held a “difficult and complex discussion” before settling on a 50 basis point hike. “We can’t let inflation run away, neither can we stifle economic growth,” he told journalists. “We...

The Bank of Zambia will begin buying gold from Canadian miner First Quantum Minerals and the state mining firm as it resumes holding the precious metal as part of its foreign reserves, the central bank governor said on Friday.

(Adds deal between central bank and ZCCM-IH, quotes) LUSAKA, Dec 11 (Reuters) - The Bank of Zambia will begin buying gold from Canadian miner First Quantum Minerals and the state mining firm as it resumes holding the precious metal as part of its foreign reserves, the central bank governor said on Friday. The southern African nation - a major copper producer - became Africa’s first pandemic-era sovereign default last month after it failed to pay a coupon on one of its dollar-denominated bonds...

Nov 26 2020, 7:56 PM November 26 2020, 2:25 PM November 26 2020, 7:56 PM (Bloomberg) -- Zambian inflation quickened for the third straight month in November to a four-year high. (Bloomberg) -- Zambian inflation quickened for the third straight month in November to a four-year high. Consumer prices rose 17.4% from a year earlier, compared with 16% in October, Mulenga Musepa, the interim statistician general at the Zambia Statistics Agency, told reporters in Lusaka, the capital. Costs increased 2...

The Bank of Zambia has signed a Gold Purchase Agreement with Kansanshi Mining PLC, a subsidiary of First Quantum Minerals. BoZ Governor, Mr Christopher Mvunga, signed the agreement on behalf of the Central Bank while, Director of Operations at First Quantum Minerals, Mr Rudi Badenhorst, signed on behalf of Kansanshi Mining PLC. The Agreement is a milestone in the Bank’s efforts to resume the holding of gold as part of the country’s foreign exchange reserves. Mr Mvunga said Kansanshi Minin...