ZAMBIA IN TRADE SURPLUS Friday 6 24 BOZ APPROVES K4BN PACKAGE
July, 2020
ZAMBIAhas continued to record a trade surplus during the Covid-19 period despite food consumer prices increasing to 16 percent this month from 15.7 percent recorded in August 2020.
Total trade in September 2020 increased by 16.0 percent to over K26.24 billion from K22.61 billion in August 2020, says Mulenga Musepa, the Interim Statistician General at the Zambia BoZ Deputy Governor for Central Bank. Statistics Agency (ZAMSTATS). By
Operations, Francis Chipi- Dr Chipimo was speaking Mr Musepa said the total trade
mo, indicated that K4bn was yesterday during a BoZ radio for the period from January 2020 Bank of Zambia
approved but only K1bn had show Programme. to September 2020 increased by (BoZ) has so far ap-
"For those we have ap- 22.5 percent to K165.87 billion proved K4 billion from been drawn. from K135.35 billion. the stimulus package which He said appli- proved K4bn but now about
He said this yesterday when has been put in place to pro- cations worth K1bn has been drawn down. announcing the monthly bullevide liquidity in the financial K4.8 billion We are working with FSPs tin for the month of September markets during the Covid-19 from both to make sure a faster draw on the Copperbelt. period. down, the remaining K3 bil-
Imports, he said, increased by banks increased and to 16.0 percent from for this month was attributed to “A Trade Surplus of K7.3 bilIn 10.8 April percent this year, to K9.58 the cen- billion in non-bank 15.7 percent lion of the K4bn approved.
recorded in Sepprice increases in food items. lion was recorded in September tral September bank staked 2020 a K10 from billion K8.65 bilinstitu- tember 2020 We want this support to get
“The year- to- date inflation 2020 indicating a 32.9 percent stimulus lion in August package 2020. to assist tions had Zambia’s July Inflation reto the clients," he said.
was Chipimo recorded said at 16 13.1 com- percent in increase from an August 2020 with “Exports liquidity in mainly businesses increased been duced re- to 15.8 percent from 15.9 Dr
October banks 2020 had higher ap- than that surplus of K5.31 billion, driven during due the to a Covid-19 21.9 percent period. rise in Inceived percent by in June. mercial
of the plied corresponding for the period in by an increase in exports,” Mr Out termediate of the goods approved exports earnthe It further reduced to 15.5
2019 of 8.9 package percent. out Musepa said. amount, ings to K1bn K14.23 has billion been in dis- Septempercent in August before quick
“This means of which that, sev- the average Mr Musepa explained that exbursed ber 2020 to Atlas from Mara K11.68 Zambia, billion in ening for the first time in four
prices of goods en had and been services inports increased by 19.2 percent Indo August Zambia 2020,” Bank Mr Musepa and four said. months in September to 15.7 to K16.34 billion in September Meanwhile, Mr Musepa anpercent. creased at a approved. higher rate in 2020
non-bank Institutions.
2020 from K13.96 billion in Aunounced that the annual inflaMr Musepa said the increase compared to the same period in gust 2020. tion rate as for October 2020 had in the annual rate of inflation 2019,” he said.