Zambia 03.10.24

• Zambia’s inflation has hit a four year high. The country’s annual inflation reached 15.6 % in September. Despite this, Zambia projects a 6.6% growth in 2025. https://dabafinance.com/en/news/zambia-inflation-hits-four-year-high-amid-drought-growth-slows

• The EU has resumed its budget support programme for Zambia. https://www.eeas.europa.eu/delegations/zambia/european-union-resumes-budget-support-zambia_en

• “Zambia Agrees to $1.5bn debt revamp with Chinese Lenders.” The IMF has found that the deals fit the programs parameters. https://www.bloomberg.com/news/articles/2024-09-27/zambia-agrees-1-5-billion-debt-revamp-with-chinese-lenders

• Following the praise from Morgan Stanley, Zambia’s dollar bonds surged. https://dabafinance.com/en/news/zambias-bonds-climb-after-2025-budget-wins-praise-from-morgan-stanley

Vedanta Resource Holding has settled its $246mn in dues and is due to regain control of the Konkola copper mine. https://www.msn.com/en-in/money/topstories/vedanta-settles-dues-worth-246-million-to-regain-control-of-zambia-copper-mine/ar-BB1qfSVq?apiversion=v2&noservercache=1&domshim=1&renderwebcomponents=1&wcseo=1&batchservertelemetry=1&noservertelemetry=1