{"id":4474,"date":"2021-08-17T19:36:03","date_gmt":"2021-08-17T19:36:03","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge"},"modified":"2021-08-17T19:38:48","modified_gmt":"2021-08-17T19:38:48","slug":"president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge","title":{"rendered":"President-elect HH\u2019s win boosts Zambia\u2019s Eurobonds, kwacha surge"},"content":{"rendered":"

Africa-Press<\/a> – Zambia<\/a>. <\/strong><\/span>A Financial Analyst has attributed the recent surge in the kwacha and Zambia\u2019s 1 billion dollar Eurobonds to investor confidence following the declaration of Hakainde Hichilema as President-elect in the just ended 2021 general polls.<\/p>\n

Mr. Mambo Hamaundu says market forces are confident that the incoming administration will improve the economy. Speaking in an interview with ZANIS, Mr Hamaundu predicted that the kwacha will continue to appreciate leading up to the inauguration of the President-elect.<\/p>\n

He said pronouncements that will be made during the inauguration ceremony will be key in determining whether the dollar to kwacha rate will continue improving. He however said there must be a fundamental shift to create kwacha stability in the long term.<\/p>\n

\u201cThe kwacha dollar rate is determined by demand and supply so it is a question of what shift are we going to have that will alter the demand and supply to ensure a balance that will lead to a stable exchange,\u201d Mr Hamaundu said.<\/p>\n

And Mr Hamaundu explained that the surge in Zambia\u2019s Eurobonds means the price of the country\u2019s bonds on the market where they are traded in London have increased.<\/p>\n

He said Zambia still has an obligation to pay the 1 billion dollar Eurobond due in 2024. He however said having a strong currency will make it easy for Zambia to pay back the 1 billion dollar Eurobond due in 2024.<\/p>\n

\u201cThose bonds are in dollars so the better the rate of exchange, the better it will be when the time to pay arises,\u201d he said.<\/p>\n

Zambia\u2019s $1 billion of Eurobonds due in 2024 jumped 11 percent to 74.14 cents on the dollar in London yesterday, the biggest gain since March 2020. The local currency also surged the most since November 2015 to 19.1375 per dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. A Financial Analyst has attributed the recent surge in the kwacha and Zambia\u2019s 1 billion dollar Eurobonds to investor confidence following the declaration of Hakainde Hichilema as President-elect in the just ended 2021 general polls. Mr. Mambo Hamaundu says market forces are confident that the incoming administration will improve the economy. Speaking […]<\/p>\n","protected":false},"author":84,"featured_media":4472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,235,1808,1833,233],"class_list":["post-4474","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-eurobonds","tag-hamaundu","tag-zambia"],"yoast_head":"\nPresident-elect HH\u2019s win boosts Zambia\u2019s Eurobonds, kwacha surge - Zambia<\/title>\n<meta name=\"description\" content=\"A Financial Analyst has attributed the recent surge in the kwacha and Zambia\u2019s 1 billion dollar Eurobonds to investor co ...\" \/>\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\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"President-elect HH\u2019s win boosts Zambia\u2019s Eurobonds, kwacha surge\" \/>\n<meta property=\"og:description\" content=\"A Financial Analyst has attributed the recent surge in the kwacha and Zambia\u2019s 1 billion dollar Eurobonds to investor co ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge\" \/>\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=\"2021-08-17T19:36:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-17T19:38:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/08\/img-611c0ff7a6acd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"503\" \/>\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\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"President-elect HH\u2019s win boosts Zambia\u2019s Eurobonds, kwacha surge\",\"datePublished\":\"2021-08-17T19:36:03+00:00\",\"dateModified\":\"2021-08-17T19:38:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge\"},\"wordCount\":299,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/08\/img-611c0ff7a6acd.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Eurobonds\",\"Hamaundu\",\"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\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/president-elect-hhs-win-boosts-zambias-eurobonds-kwacha-surge\",\"name\":\"President-elect HH\u2019s win boosts Zambia\u2019s Eurobonds, kwacha surge - 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