This paper monitors the effects of the global financial crisis in
Zambia. It traces the impact of the crisis through its effects on four
main transmission paths, namely: private capital flows, trade,
remittances and official development assistance (ODA). The study finds
that, although the effects of the crisis have continued to be felt in
Zambia, the situation eased somewhat during the second and third quarter
of 2009, in line with global trends. ODA and remittances have not been
affected by the crisis. Moreover, the country’s current account balance
and overall balance of payments position moved from a deficit during the
first quarter to a surplus during the second and third quarters of 2009.
The overall effects of the crisis are generally easing and the country
is expected to grow at pre-crisis levels.
Manenga Ndulo, M.; Mudenda, D.; Ingombe, L. and Chansa, F. Global Financial Crisis Discussion Series. Paper 22: Zambia Phase 2. ODI, London, UK (2010) 39 pp.
Global Financial Crisis Discussion Series. Paper 22: Zambia Phase 2