Zambia 19.07.24

·         The IMF has suggested Zambia’s plan to ban charging foreign currency in local transactions (punishable with 10 year jail terms) might defeat its own purpose. “Forced dedollarization measures are likely to prove ineffective and could even be counterproductive,” unless accompanied by a strong macroeconomic stabilization plan and, depending on country specific conditions and implementation modalities, Lautier said.” https://www.bloomberg.com/news/articles/2024-07-19/imf-says-zambia-s-dedollarization-plan-may-be-counterproductive

·         Zambia’s main pension fund has switched its investment focus from malls to infrastructure. The authority known as Napsa, is looking to put money into productive assets under public-private partnerships. https://www.bloomberg.com/news/articles/2024-07-18/zambian-pension-fund-switches-focus-from-malls-to-infrastructure

·         Vedanta Resources Holding Ltd, is ready to regain control of the Konkola copper mine in Zambia after settling $246 million in dues. https://www.livemint.com/companies/news/vedanta-settles-dues-anil-agarwal-zambia-copper-mine-liquidation-metal-demand-supply-11721363762165.html