4/19/2023 0 Comments Buy two worlds ii![]() “We have seen the Kwacha gain strength, and that was driven by increased foreign exchange supply to the market by the Bank of Zambia which was consistent in the market, whereas the demand for US dollars has been low and that led to the appreciation of the Zambian Kwacha,” Chileshe explained. To guard against the volatility in the exchange rate, the central bank was offloading an average of $13 million per day in June. 31 in addition to another $1.3 billion special drawing rights allocation from the fund it received in August 2021.Įconomist Patrick Chileshe said the other reason why the Kwacha has been gaining against the US dollar is increased forex supply. The IMF board approved a $1.3 billion 38-month loan to Zambia on Aug. The rate of rise of food prices fell from 12% in July to 11.3% in August.Ĭhallenges still prevail though in the mining sector, which contributes 10% to the country’s GDP.Īn agreement with the International Monetary Fund (IMF) to restructure Zambia’s debt, a $1.4 billion bailout package has seen the Kwacha strengthen against the US dollar and helped contain the rate at which prices were rising due to supply-chain disruptions emanating from the war in Ukraine and ravages caused by the covid-19 pandemic. To support agriculture and livestock, the government also removed 5% customs duty on the importation of cattle and chicken breeding. The ultimate goal is to reduce inflation to between 6% and 8% by mid 2023 and a decline in inflation had been achieved when it met again in May 2022. When the government’s monetary policy committee met last November, it decided to “raise the monetary policy rate by 50 basis points to 9%.” The rate remains unchanged till now. What could be Zambia’s secret in shining in economic areas where almost all countries in the world are struggling? A raft of both monetary and fiscal measures, according to the Policy Monitoring and Research Centre in Lusaka, the capital. Two Worlds II: Pirates of the Flying Fortress is an expansion to the game Two Worlds II that was released on September 30th, 2011. While continental peers South Africa, Zimbabwe, Nigeria, Ghana, and Kenya have been unable to control rising inflation and plunging currencies, Hichilema’s government has managed to reduce the inflation rate from 24.4% in August 2021 to 9.7% in June this year. The Zambian kwacha is the world’s best performing currency in the world against the US dollar, rallying over 18.5% against the dollar from Jan. Since he became president in August last year, Hakainde Hichilema has steered the economy towards stability. ![]() Looking back now, it’s evident that these were the exact skills that Zambia needed to pull it back from the economic mess it was in at the time, having become the first African country to default on repayments during the pandemic. When he first came into office, almost a year ago, Zambia’s new president was ridiculed by skeptics who called him, “the calculator boy,” for his strong focus on the economy and his background as an accountant. Save on a pair of refurbished AirPods 3 - right now they’re just over $100, a true steal.Here’s Zambia’s secret to controlling inflation and strengthening its currency.Jackets, vests, Baggies shorts and more are up to half off during REI’s sale on Patagonia gear.These New Balance 574 sneakers combine comfort and style, so you can pair them with slacks or workout clothes any day of the week.This refurbished food processor by Cuisinart makes even the most complicated recipes a relative breeze.The cult-favorite Outdoor Voices Exercise Dress is on sale in a few colors at Nordstrom right now.Save on kitchen tools from Cuisinart, discounted at Woot! right now.Halloween isn’t too far away, and Chewy is offering BOGO 50% off costumes to dress up your pets for the holiday.If you’re looking for a solution to dull locks, a set of must-have Olaplex hair products is massively on sale right now.Keep your information safe on a durable SanDisk external hard drive - our top pick is on sale right now.Get up to 24% off an Apple Watch 7 (a newer model we like) during this Amazon promo.Durable and easy to wipe clean, these mats make it easier than ever to whip up a quick dinner or batch of fresh cookies - and right now a two-pack is on sale for just $16. These bestselling silicone baking mats are nonstick, dishwasher-safe and a sustainable alternative to single-use aluminum foil or parchment paper. Your CNN account Log in to your CNN account
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