Government’s move to create a sinking fund aimed at repaying the two 10-year sovereign Eurobonds has been received with mixed feelings by some sectors of society. Some stakeholders have welcomed the move while others claim it is all political propaganda.
PRIVATE Sector Development Association (PSDA) chairperson Yussuf Doldia says the recently acquired Eurobond can only yield better results if channelled towards social economic infrastructure. Mr. Doldia said channelling the Eurobond towards social economic infrastructure will bring about economic development adding that this can help service the debt. Mr. Doldia said government borrows in order to finance its own program.
BBC REPORTS - The fates of a string of new movies are up in the air after a Hollywood studio filed for bankruptcy protection. Relativity Media filed for Chapter 11 bankruptcy protection on Thursday and will now sell its TV and film arms. However, it said it would go ahead with the releases of Kristen Wiig's Masterminds and Halle Berry's Kidnap.
ZAMBIA has in the Month of June recorded a trade deficit of over one million kwacha, the highest for the year 2015; Zambia Central Statistics Office (CSO) says. CSO director of census and statistics, John Kalumbi revealed that the country recorded a trade deficit valued at K 1,293.2 million in June 2015 from a trade deficit of K 1, 210.0 million recorded in May 2015. He said this means the country imported more in June 2015 than it exported in nominal terms.
THE Jesuit Centre for Theological Reflection (JCTR) says the gradual but steady weakening of the Kwacha against major international currencies must be addressed from a comprehensive perspective. JCTR acting information officer Bwalya Musoma said while short-term measures to stabilize the Kwacha were welcome, there was urgent need to focus on long-term solutions. She added that a broad range of factors must be comprehensively considered in order to address root causes of the Kwacha’s depreciation.
University of Zambia United Nations Youth Association (UNZA YUNA) has launched a tree planting campaign at the Great East Road Main Campus. The campaign is aimed at achieving Millennium Development Goal (MDG) number seven which aims to ensure environmental sustainability by 2015. In an interview with the Lusaka Star, UNZA YUNA President Shikaaba Pastop said the tree planting campaign was vital as trees were an important aspect in the eco-system.
Former President Rupiah Banda’s political advisor Dr Francis Chigunta has advised the Patriotic Front government (PF) to strengthen the monetary policy implementation to avoid the increasing levels of inflation. In an interview with the Lusaka star, Dr Chigunta said the inflation rate in Zambia on an annual basis is still low and around this time of the year it is normal to experience an increase in inflation.
THE Bank of Zambia (BoZ) has maintained the policy rate for the month of December 2013 at 9.75 per cent, head of public relations Kanguya Mayondi has announced. He said this in a statement in Ndola last week that the committee noted that the recent developments in inflation have broadly been in line with expectations, as annual overall inflation was recorded at 7 per cent in November 2013.
The Bank of Zambia (BoZ) says improving education and promoting financial literacy among the youths is vital for all African economies. Speaking during the second Child and Youth Finance International (CYFI) regional meeting for Africa, BoZ Governor Michael Gondwe said financial literacy among children and the youth is of vital importance to economic development.
THE Millennium Development Goals (MDGs) Progress Report for 2013 has revealed that climate-related shocks manifested by extreme weather conditions have destroyed livelihoods and exacerbated Africa’s food insecurity.