{"id":12845,"date":"2021-12-31T17:08:58","date_gmt":"2021-12-31T17:08:58","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year"},"modified":"2021-12-31T17:30:54","modified_gmt":"2021-12-31T17:30:54","slug":"why-zambias-currency-jumped-27-against-the-dollar-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year","title":{"rendered":"Why Zambia\u2019s currency jumped 27% against the dollar this year"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Why Zambia\u2019s currency jumped 27% against the dollar this year Zambia\u2019s currency is on track for a world-beating year as investors bet on the new government\u2019s chances of securing a bailout deal with the International Monetary Fund and negotiating a debt restructuring.<\/p>\n

The kwacha has advanced 27% against the dollar this year, largely on the back of optimism over the August election victory of Hakainde Hichilema. That\u2019s the currency\u2019s best annual performance since 2005, and only the Seychelles rupee has fared better this year. Both were among the three worst performers in 2020.<\/p>\n

Zambian President Hichilema\u2019s government is trying to rework as much as $17 billion in external public debt. He needs the IMF\u2019s endorsement to advance talks with creditors ranging from holders of $3 billion in Eurobonds to $5.8 billion owed to China. Finance Minister Situmbeko Musokotwane plans to conclude negotiations by the middle of 2022. The country became Africa\u2019s first pandemic-era sovereign defaulter last year, and hasn\u2019t serviced most dollar debt since.<\/p>\n

The currency of Africa\u2019s second-biggest copper producer has also been buoyed by near-record prices for the metal, which makes up more than 70% of export earnings and helped boost the 2021 trade surplus to 73.4 billion kwacha ($4.4 billion) through November, compared with 41.8 billion kwacha a year earlier.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Why Zambia\u2019s currency jumped 27% against the dollar this year Zambia\u2019s currency is on track for a world-beating year as investors bet on the new government\u2019s chances of securing a bailout deal with the International Monetary Fund and negotiating a debt restructuring. The kwacha has advanced 27% against the dollar this year, […]<\/p>\n","protected":false},"author":84,"featured_media":12844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12,16],"tags":[234,235,233],"class_list":["post-12845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nWhy Zambia\u2019s currency jumped 27% against the dollar this year - Zambia<\/title>\n<meta name=\"description\" content=\"Why Zambia\u2019s currency jumped 27% against the dollar this year Zambia\u2019s currency is on track for a world-beating year as ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Zambia\u2019s currency jumped 27% against the dollar this year\" \/>\n<meta property=\"og:description\" content=\"Why Zambia\u2019s currency jumped 27% against the dollar this year Zambia\u2019s currency is on track for a world-beating year as ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-31T17:08:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-31T17:30:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/12\/img-61cf3e2f00fb0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Why Zambia\u2019s currency jumped 27% against the dollar this year\",\"datePublished\":\"2021-12-31T17:08:58+00:00\",\"dateModified\":\"2021-12-31T17:30:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year\"},\"wordCount\":232,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/12\/img-61cf3e2f00fb0.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/why-zambias-currency-jumped-27-against-the-dollar-this-year\",\"name\":\"Why Zambia\u2019s currency jumped 27% against the dollar this year - 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