Ludwig von Mises Institute

Zambia

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Country summary

Capital

Lusaka

Borders

Angola 1,110 km, Democratic Republic of the Congo 1,930 km, Malawi 837 km, Mozambique 419 km, Namibia 233 km, Tanzania 338 km, Zimbabwe 797 km

Government type

republic

Population

11,862,740[1]

Population growth

1.631% (2010 est.)[1]

Life expectancy

38.63 years[1]

Unemployment

50% (2000 est.)[1]

Index of Economic Freedom

100[2]

Corruption Perceptions Index

99[3]

Doing Business ranking

90[4]


The territory of Northern Rhodesia was administered by the [British] South Africa Company from 1891 until it was taken over by the UK in 1923. During the 1920s and 1930s, advances in mining spurred development and immigration. The name was changed to Zambia upon independence in 1964. In the 1980s and 1990s, declining copper prices and a prolonged drought hurt the economy. Elections in 1991 brought an end to one-party rule, but the subsequent vote in 1996 saw blatant harassment of opposition parties. The election in 2001 was marked by administrative problems with three parties filing a legal petition challenging the election of ruling party candidate Levy MWANAWASA. The new president launched an anticorruption investigation in 2002 to probe high-level corruption during the previous administration. In 2006-07, this task force successfully prosecuted four cases, including a landmark civil case in the UK in which former President CHILUBA and numerous others were found liable for USD 41 million. MWANAWASA was reelected in 2006 in an election that was deemed free and fair. Upon his abrupt death in August 2008, he was succeeded by his Vice President Rupiah BANDA, who subsequently won a special presidential election in October 2008.[1]

Economical characteristics[edit]

  • Currency: Zambian kwacha (ISO code: ZMK)
  • Central bank discount rate: 8.39% (31 December 2009)[1]
  • Commercial banks lending rate: 22.06% (31 December 2009 )[1]
  • Stock of money (M1): $1.034 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $1.618 billion (31 December 2008)[1]

Notable events:[edit]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[7] 3 131 3 238 3 637 3 716 4 374 5 423 7 157 10 675 11 410 14 314
Govt. debt (% of GDP)[8]
Govt. revenue (% of GDP)[9] 19.126 19.652 17.758 17.186 18.028 17.693 17.009 17.598
Govt. expenses (% of GDP)[10] 17.432 15.878 15.994 17.644 20.013 23.001 17.011 22.942
Debt to revenue (years)

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Zambia", from The World Factbook. Referenced 2010-10-05.
  2. ↑ Heritage Foundation. "Zambia", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-05.
  3. ↑ Transparency International. "Zambia", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-05.
  4. ↑ Doing Business. "Zambia", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-05.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 392. (The list does not claim to be complete.) Referenced 2011-07-21.
  6. ↑ Carmen M. Reinhart. "This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises" (pdf), March 3, 2010, p. 123. (The list does not claim to be complete.) Referenced 2011-07-21.
  7. ↑ World Bank. "Zambia: GDP", from World Bank Data. Referenced 2010-10-05.
  8. ↑ World Bank. "Zambia: government debt", from World Bank Data. Referenced 2010-10-05.
  9. ↑ World Bank. "Zambia: government revenue", from World Bank Data. Referenced 2010-10-05.
  10. ↑ World Bank. "Zambia: government expenses", from World Bank Data. Referenced 2010-10-05.

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