International Reserves in Zambia

Zambia International Reserves | Economic News & Forecasts

Zambia - International Reserves

After the economy slipped into a technical recession in Q2 as the pandemic’s fallout battered the trade and construction sectors, available figures hint at a slow recovery so far. The external sector, in particular, seems to have staged a strong comeback as soaring shipments of copper—which accounts for the lion’s share of the country’s exports—combined with rallying prices for the commodity due to upbeat demand from China, translated into a massive increase in export revenues in August–September. Domestically, the private sector PMI continued to crawl higher, hitting a near two-year high in October, albeit still pointing to a deterioration in business conditions. Meanwhile, in late October, S&P Global Ratings cut the country’s credit rating from CCC- to selective default, after the government missed an interest payment and announced the suspension of debt service to external creditors. The country is headed to become the region’s first pandemic-era sovereign defaulter.

Zambia - International Reserves Data

2015   2016   2017   2018   2019  
International Reserves (USD)3.0  2.4  2.1  1.6  1.4  

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Zambia International Reserves Chart


Zambia International Reserves
Note: International reserves, months of imports.
Source: IMF and FocusEconomics calculations

Zambia Facts

Value Change Date
Bond Yield33.000.0 %Dec 31
Exchange Rate14.090.0 %Jan 01
Stock Market0.30.0 %Jan 06

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