Blog entries from: Zambian Economist

A non-partisan website that provides independent economic perspectives on Zambia's progress towards meaningful development for her people.

1 to 10 of 124

October 1 2014

From Zambian Economist Wed Oct 1 2014, 17:56:00

By Elias Chipimo

Let me start with a surprising statement: every finance minister since 1997 has been refunding mining companies for the VAT that they pay when they bring goods and equipment into this country. This includes Edith Nawakwi (under President Chiluba), Peter Magande (under President Mwanawasa) and Situmbeko Musokotwane (under President Banda).

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September 28 2014

From Zambian Economist Sun Sep 28 2014, 11:45:00

Government appears to have completely U-turned on the $600m VAT refund to exporters, with the larger bulk owed to mines and other exporters. ZRA says the U-turn is due to "widespread concern on the matter".

Minister Minister Chris Yaluma says "ZRA will do what they think is right and like they said, they have got the autonomy to run as best as they can to ensure all needed revenues are collected...They are trying to do what they can do best in the interest of the country." (Source: The Post). No word from Alexander Chikwanda but it appears the U-turn may have President Sata's backing.

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September 22 2014

From Zambian Economist Mon Sep 22 2014, 13:35:00

By Henry Kyambalesa

In this article, the term "economic growth" refers to an increase in a country's total output of goods and services over a given period. The term "economic development" refers to improvements in the standards of living of a country's citizens. These include sustained and pronounced improvements in per capita income, life expectancy, literacy levels, human capital, healthcare services, food security, public housing, transportation infrastructure, and leisure and recreation.

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September 20 2014

From Zambian Economist Sat Sep 20 2014, 06:04:00

Editor's note: Fitch today affirmed Zambia's credit rating at 'B', and revised the outlook to positive owing largely to the rebased GDP figures, government revoking BoP regulations and promises to consolidate fiscal spending as part of the ongoing discussion with the IMF on a new austerity programme.  The Fitch assessment does not appear to reflect current information on some issues so some the risks it flags requires deeper consideration. 

Fitch Ratings has revised the Outlook on Zambia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Positive from Stable and affirmed the IDRs at 'B'. The issue ratings on Zambia's senior unsecured foreign and local currency bonds have also been affirmed at 'B'. The Country Ceiling has been affirmed at 'B+' and the Short-term ...

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September 19 2014

From Zambian Economist Fri Sep 19 2014, 12:20:00

Editor's note : President Michael Sata earlier today delivered the highly anticipated speech to parliament set out the government's agenda in the next parliamentary year. Full speech below, with minor editorial edits for ease of reading.I am privileged and honoured today to be with you and the members of parliament on this important day of our national calendar to officially open the fourth session of the eleventh national assembly. It is now three years since the patriotic front government took office, and there are only two years before the next elections.

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September 17 2014

From Zambian Economist Wed Sep 17 2014, 18:32:00

Community Development Minister Emerine Kabanshi recently announced that the Government plans to extend the cash transfer scheme to cater for up one million households. Government has sensed that it is onto an election winner.

GRZ is currently running two cash protection schemes that gives support to the vulnerable in the community : social cash transfer and social protection fund. The cash transfer is a bi-monthly cash allowance of $25 and $50 dollars for vulnerable households and households where there are people with disabilities respectively.

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September 15 2014

From Zambian Economist Mon Sep 15 2014, 09:39:00

By Bruce Chooma

Zambia is in a bizarre position when it comes to land administration and management. No one knows how much land is available for various purposes. For over 20 years the Zambian government has insisted that only 6% of land in Zambia is state land the remaining 94% is customary. The truth is that a lot of land has since been converted from customary to state land across the country but without any reliable system of records at the Ministry of Lands.

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September 12 2014

From Zambian Economist Fri Sep 12 2014, 18:26:00

"It is our hope also that the government will help companies like Times of Zambia where workers have gone for three or four months without getting paid. Workers have been patient, we have met the labour and information ministries but the request we made to the Ministry of Finance is still pending and they are the ones who hold the key...If this money is paid, then the Times of Zambia can also manage to pay the workers"

LEONARD HIKAUMBA

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September 10 2014

From Zambian Economist Wed Sep 10 2014, 18:23:00

A recent World Bank blog piece  about infrastructure and development makes the following interesting comment :

"Will public investment in infrastructure be sufficient for unleashing faster economic growth in Sub-Saharan Africa? The evidence, both academic and empirical seems to say not necessarily. We see from the works of Rodrik, Hausmann and Velasco (2005)  that developing economies face multiple constraints to growth, and that public policy should focus on removing the binding constraints that really matter. However, that requires an accurate diagnosis of the binding constraints to growth" 

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September 8 2014

From Zambian Economist Mon Sep 8 2014, 18:46:00

A recent IMF working paper has an interesting summary of the latest empirical evidence on the channels linking the judicial system and growth :

Development of credit markets and cost of credit. Weak contract enforcement raises the cost of borrowing, and shortens loan maturities (Bae and Goyal, 2009; Laeven and Majnoni, 2003), with a detrimental impact on investment, the depth of mortgage markets, and GDP (Bianco et al., 2002; Laeven et al., 2003; Djankov et al., 2008).

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