Close Menu
    Facebook X (Twitter) Instagram
    • Automobile
    • Banking
    • Commodities
    • Energy
    • Markets
      • Debt and Capital markets
    • Mining
    • Sovereign
    • Oddly Abstract
    • Property Development
    • Tech and innovation
    Facebook X (Twitter) Instagram
    The Business Telegraph
    Zanaco
    • Automobile
    • Banking
    • Commodities
    • Energy
    • Markets
      • Debt and Capital markets
    • Mining
    • Sovereign
    • Oddly Abstract
    • Property Development
    • Tech and innovation
    The Business Telegraph
    Home»Sovereign»Africa’s red metal producer’s 2020 budget falls short on addressing external financing risks

    Africa’s red metal producer’s 2020 budget falls short on addressing external financing risks

    Facebook Twitter LinkedIn Email WhatsApp
    Share
    Facebook Twitter LinkedIn Email WhatsApp

    Fitch ratings agency has that the 2020 budget in Africa’s red metal producer, could exacerbate risks to the sovereign’s external debt sustainability unless new sources of grant funding or concessionary lending are found. The ratings agency cited an uptick in budget financing without detailing the sources of the funding. Zambia’s 2020 budget has increased by 22.3% to K106.3billion.

    Finance Minister, Dr. Bwalya Ng’andu in his debut budget presentation projects to narrow the fiscal deficit to 5.5% in 2020 while growing the economy by a targeted 3.1% from 2.2% in 2019. Other metrics the former central bank targets to achieve are 2.5months of import cover. 

    Fitch had earlier in June rated the red metal producer to CCC from B- (-ve outlook) citing rising risks to growth and the high external financing needs coupled with declining foreign exchange reserves which increases the sovereign vulnerability to external shocks.

    BT

    Share. Facebook Twitter LinkedIn WhatsApp
    The Editor
    • Website

    Related Posts

    Zambia’s Financial Crossroads: The Urgent Need for a Second IMF Deal

    February 25, 2025

    Zambia Reallocates Fiscal Purse in Second Supplementary Budget as Drought Deepens

    December 4, 2024

    Zambia the Week Ahead: Supplementary Budget, Kwacha Rally Bias, and Moody’s ‘Caa2’ Upgrade Post-Bond Restructure

    June 16, 2024
    Leave A Reply

    Zambia’s Financial Crossroads: The Urgent Need for a Second IMF Deal

    Zambia’s Bond Yields Hit New Lows—A Boon or a Warning?

    Zambia’s Currency Woes Fuel Record Diaspora Remittances

    Zambia’s Currency Woes Fuel Record Diaspora Remittances

    Zambia’s Financial Crossroads: The Urgent Need for a Second IMF Deal

    Africa’s red metal hotspot Zambia, is looking beyond 2025 as it continues on its path…

    Zambia’s Bond Yields Hit New Lows—A Boon or a Warning?

    In a closely watched bond auction on Valentine’s Day Friday 14 February , the Bank…

    Zambia’s Currency Woes Fuel Record Diaspora Remittances

    As Africa’s second-largest copper producer, Zambia faces mounting pressure from sharp currency depreciation, driven by…

    Zambia’s Currency Woes Fuel Record Diaspora Remittances

    As Africa’s second-largest copper producer, Zambia faces mounting pressure from sharp currency depreciation, driven by…

    © 2025 The Business Telegraph.
    • Capital markets
    • Oddly Abstract
    • Property Development
    • Tech

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version