Transcript Impact of GEC on Zambia

A case of Zambia
Tina Nanyangwe - Moyo
Coordinator: Debt, Aid and Trade Programme
JCTR/ Jubilee-Zambia
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The impact of GEC on LICs has been substantial and
significantly varied
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Ethiopia: 2 Israeli-owned flower farms put up for auction for
failure to service bank loans due to reduced export sales
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Uganda: Coffee exports to decline and Direct Budget Support
of 60% annually to drop. 80% of workforce in agric at threat of
job losses
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Congo, D.R – Suffered major job losses of over 300,000 due to
closures of copper mines
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Copper prices reached a record high of US $8,
985.0/ tonne in July 2008 before falling to
US$2, 902.0/ tonne
At end January, country recorded a severe
trade deficit of $42,5bn
Loss of mining jobs
Loss of hospitality industry (no statistics)
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Inadequate access to markets
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Huge transport costs for landlocked countries
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Dependency on one single export commodity
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Lack of value additions to products
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Lack of credit facilities for traders
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Meager economic growth has not improved
capital accumulation
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Bangladesh; setting up of a core group to
assess the impact of the crisis and offer
responses
Many waiting for IFIs to help
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Increasing financial resources through loans
Increasing technical assistance
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Improve domestic demand
Invest in agriculture
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WB World Devpt Report – GDP growth from agric
4 times efficient in raising incomes
Participation of larger popn
Agric more than fertilizer support
Improved food security
Explore regional markets
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Targeted infrastructure devpt based on
national priorities
Need to constitute a core group to identify
priority responses??
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I Thank you!
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Website: www.jctr.org.zm