Zambia's money is losing value fast. The country is facing a terrible drought. This is making it hard for the economy to grow.
Zambia fixed its debt problems last year, and people thought this would help. But the currency is still falling. It is now worth less than before the debt deal.
Zambia relies on hydroelectric power. The drought means less electricity. Mining companies are producing less copper. Copper brings in money from other countries.
The drought is the worst in 100 years. It has hurt crops and forced power cuts.
Zambia's currency fell significantly in 2020 when the country couldn't pay its debts. The currency rose last year when the debt was fixed, but the gains were short-lived.
Some companies have sold dollars recently. They need to pay taxes next week. This has helped the currency a little bit. But the overall trend is still down.
Zambia faces a tough road ahead. The drought and power issues are big challenges. The country needs to find ways to support its economy. It will take time and effort to turn things around.
Zambia fixed its debt problems last year, and people thought this would help. But the currency is still falling. It is now worth less than before the debt deal.
Zambia relies on hydroelectric power. The drought means less electricity. Mining companies are producing less copper. Copper brings in money from other countries.
The drought is the worst in 100 years. It has hurt crops and forced power cuts.
Zambia's currency fell significantly in 2020 when the country couldn't pay its debts. The currency rose last year when the debt was fixed, but the gains were short-lived.
Some companies have sold dollars recently. They need to pay taxes next week. This has helped the currency a little bit. But the overall trend is still down.
Zambia faces a tough road ahead. The drought and power issues are big challenges. The country needs to find ways to support its economy. It will take time and effort to turn things around.
