Zambia - Money

Since the liberalization of the kwacha in the early 1990s Zambia has suffered from a permanently high level of inflation . In part due to the influx of imports to modernize Zambia's recently privatized copper mines, the kwacha lost 40 percent of value to the U.S. dollar in 2000. Zambia's inflation has resulted in its coinage being more valuable as pieces of metal than at face value. In consequence, notes are the population's source of cash. Due to expensive and scarce credit facilities, Zambia's domestic trade is generally undertaken using cash.

Zambia has a single stock exchange, the Lusaka Stock Exchange (LuSE). The LuSE opened in 1994. By 1997 it had benefitted from increased trading volumes, and its capitalization value was US$502 million. At the outset of 2000 it listed 15 companies. The national Securities and Exchange Commission (SEC) regulates Zambia's stock market.

Exchange rates: Zambia
Zambian kwacha (K) per US$1
Jan 2001 4,024.53
2000 3,110.84
1999 2,388.02
1998 1,862.07
1997 1,314.50
1996 1,207.90
SOURCE: CIA World Factbook 2001 [ONLINE].

GDP per Capita (US$)
Country 1975 1980 1985 1990 1998
Zambia 641 551 483 450 388
United States 19,364 21,529 23,200 25,363 29,683
South Africa 4,574 4,620 4,229 4,113 3,918
Dem. Rep. of Congo 392 313 293 247 127
SOURCE: United Nations. Human Development Report 2000; Trends in human development and per capita income.
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