{"id":26950,"date":"2022-07-17T22:11:23","date_gmt":"2022-07-17T22:11:23","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights"},"modified":"2022-07-17T22:23:42","modified_gmt":"2022-07-17T22:23:42","slug":"zambia-to-receive-1-billion-dollars-through-special-drawing-rights","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights","title":{"rendered":"Zambia To Receive 1 Billion Dollars Through Special Drawing Rights"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>THE United Nations Economic Commission for Africa (UNECA) has requested for new Special Drawing Rights (SDR) for Africa from the International Monetary Fund (IMF) out of which Zambia will be allocated US$1 billion.<\/p>\n

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries\u2019 official reserves. United Nations (UN) under secretary general and Economic Commission<\/p>\n

for Africa (ECA) Executive secretary Vera Songwe said the additional liquidity is meant to cushion Zambia\u2019d price pressure of fuel and fertiliser amonther commodities.<\/p>\n

Speaking when she met Bank of Zambia governor Denny Kalyalya at his office, Dr Songwe saidShe says if African is not given liquidity, 6 million Africans will starve.<\/p>\n

Dr Songwe said the SDR would help address the tensions in the continent and Zambia was lucky to be benefiting from the extra liquidity to help her address challenges not only on fuel and fertiliser prices but also the monetary tightening.<\/p>\n

\u201cWe have done some works which has indicated that if extra liquidity is not given over six million people in Africa will starve,\u201d Dr Songwe said She also said Africa should look at how it can create opportunities to grow the continent by investing in sectors where it has an<\/p>\n

advantage such as venturing into electric vehicles and battery manufacturing industries given that Zambia and Democratic Republic of Congo (DRC) produce about 78 per cent of the world\u2019s cobalt.<\/p>\n

And bank of Zambia governor Denny Kalyalya said Ms Songwe is keen to to it that debt restructuring is a success as is Zambia\u2019s strong ambassador. \u201cGiven the economic status that Zambia isfacing there is need to have more voices speaking for the country and Dr Songwe is one of the voices that can advocate for the country.<\/p>\n

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

Africa-Press – Zambia. THE United Nations Economic Commission for Africa (UNECA) has requested for new Special Drawing Rights (SDR) for Africa from the International Monetary Fund (IMF) out of which Zambia will be allocated US$1 billion. The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries\u2019 official […]<\/p>\n","protected":false},"author":84,"featured_media":26949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,235,233],"class_list":["post-26950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nZambia To Receive 1 Billion Dollars Through Special Drawing Rights - Zambia<\/title>\n<meta name=\"description\" content=\"THE United Nations Economic Commission for Africa (UNECA) has requested for new Special Drawing Rights (SDR) for Africa ...\" \/>\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\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zambia To Receive 1 Billion Dollars Through Special Drawing Rights\" \/>\n<meta property=\"og:description\" content=\"THE United Nations Economic Commission for Africa (UNECA) has requested for new Special Drawing Rights (SDR) for Africa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights\" \/>\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=\"2022-07-17T22:11:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-17T22:23:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/07\/postQueueImg_23-62d48bd91c193.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"658\" \/>\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=\"2 minutes\" \/>\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\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zambia To Receive 1 Billion Dollars Through Special Drawing Rights\",\"datePublished\":\"2022-07-17T22:11:23+00:00\",\"dateModified\":\"2022-07-17T22:23:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights\"},\"wordCount\":313,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/07\/postQueueImg_23-62d48bd91c193.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambia-to-receive-1-billion-dollars-through-special-drawing-rights\",\"name\":\"Zambia To Receive 1 Billion Dollars Through Special Drawing Rights - 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