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Zambia likely to hit us$2 bn import cover

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Economist Professor Oliver Saasa anticipates that Zambia is likely to reach a US$2 Billion import cover should the current copper prices continue on the present trajectory.

Copper is currently selling at over US$10,000 per tonne and this has resulted in the kwacha remaining in the K22 range to a Dollar, a situation Professor Saasa says is good for the country’s economy.

Professor Saasa has however noted the need to prioritize locals when it comes to promoting investments in the mines if Zambia is to realize the much needed benefits from the sector.

Meanwhile Professor Saasa says Zambia is yet to convince the International Monetary Fund –IMF- and other multilaterals in order to get the bailout package from the IMF.

Speaking when he featured on Friday edition of PHOENIX FM’s Let The People Talk Programme this morning, Professor Saasa has also urged government to pay its allegiance to citizens who he says are looking for improved living.

PHOENIX NEWS

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