The IMF completed their latest Article 4 consultation meetings with senior government officials which highlight fiscal and external pressures that the economy is facing. You can read the full statement here. Below is a chart of the key takeaways:
Thursday’s T/bill auction undersubscribed by 53%
The Government raised K422.9 million out of a targeted K900 million at the third Treasury bill (T/bill) auction of 2015. The auction was under-subscribed by 53% with the 364 day T/bill receiving the highest amount of bids:
2014 has been a bit of a rollercoaster year for Zambia. The country lost President Michael Chilufya Sata to illness a few days after celebrating its 50th year of existence. The consumer was under tremendous pressure as the effects of a weaker Kwacha took hold over the course of the year.
2015 National Budget unleashed!
The Minister of Financed announced the K46.7 billion 2015 National Budget yesterday in front of a packed parliament. 75 percent of it will be financed by tax revenue, 22 percent by debt and 3 percent by grants.
Minister of Finance Alexander Chikwanda announced the K46.7 billion 2015 national budget today - up 9.6 percent from last year’s figure. Here is a look at how it will be financed in comparison to 2014:
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *