Quizzes & Puzzles2 mins ago
What Are Some Economic Undergrad Thesis Topics To Write On Based On The Current Zambian Economy?
1 Answers
What are some economic undergrad thesis topics to write on based on the current Zambian Economy?
Your suggestion will be highly appreciated.
I am interested in the last 10 years of the former President Edgar Chagwa Lungu reign from 2015-2021.
Overview of Zambia’s Economy
Zambia had one of the world’s fastest growing economies for the ten years up to 2014, with real GDP growth averaging roughly 6.7% per annum, though growth slowed during the period from 2015(3.8%) to 2021(-3.0%), due to falling copper prices, Corruption, reduced power generation, and depreciation of the kwacha.
Zambia’s lack of economic diversification and dependency on copper as its sole major export makes it vulnerable to fluctuations in the world commodities market and prices turned downward in 2015 due to declining demand from China; Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer. GDP growth picked up in 2017 as mineral prices rose.
Levels of corruption also reached unprecedented levels. In 2018, the Financial Intelligence Centre reported acts of corruption estimated at about $284 million. That same year, Finland, Ireland, Sweden and the UK withheld aid worth about $34 million because they were concerned about corruption and financial mismanagement.
In 2019, the money laundering and terrorist financing trends report of Zambia’s Financial Intelligence Centre disclosed that public officials had influenced the awarding of contracts. Corruption linked to public sector procurement was a major contributor to proceeds of crime.
Unemployed young people and households struggling to meet basic needs against escalating prices of essential commodities blamed the government for the worsening conditions.
Widespread and extreme rural poverty and high unemployment levels remain significant problems, made worse by a high birth rate, a relatively high HIV/AIDS burden, by market-distorting agricultural and energy policies, and growing government debt. Zambia raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015. Concurrently, it issued over $4 billion in domestic debt and agreed to Chinese-financed infrastructure projects, significantly increasing the country’s public debt burden to more than 60% of GDP. The government has considered refinancing $3 billion worth of Eurobonds and significant Chinese loans to cut debt servicing costs.
The National debt in relation to gross domestic product (GDP) was 60% in 2015 to 118% in 2021, the combination of high government debt and a weak economy meant that Zambia couldn’t service its debts. Former president Lungu’s government had a fallout with international financial markets after it defaulted on debt repayment in 2020. The International Monetary Fund (IMF) had refused to bailout Zambia in 2016 over concerns about government’s commitment to economic reforms.
The IMF resumed talks with Zambia to reform the economy in February 2021, but a deal was unlikely until after the election, which the newly elected president Hakainde Hichilema won.
Hichilema faces the daunting task of undoing the culture of violence and extortion in the political arena by party “cadres” - unemployed men who extort money, provide informal security for party elites, and disrupt opposition events. Hichilema will have to tame his own party cadres, and restore sanity through impartial application of the law to set Zambia back on the path of democratic consolidation.
Thank you.
Your suggestion will be highly appreciated.
I am interested in the last 10 years of the former President Edgar Chagwa Lungu reign from 2015-2021.
Overview of Zambia’s Economy
Zambia had one of the world’s fastest growing economies for the ten years up to 2014, with real GDP growth averaging roughly 6.7% per annum, though growth slowed during the period from 2015(3.8%) to 2021(-3.0%), due to falling copper prices, Corruption, reduced power generation, and depreciation of the kwacha.
Zambia’s lack of economic diversification and dependency on copper as its sole major export makes it vulnerable to fluctuations in the world commodities market and prices turned downward in 2015 due to declining demand from China; Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer. GDP growth picked up in 2017 as mineral prices rose.
Levels of corruption also reached unprecedented levels. In 2018, the Financial Intelligence Centre reported acts of corruption estimated at about $284 million. That same year, Finland, Ireland, Sweden and the UK withheld aid worth about $34 million because they were concerned about corruption and financial mismanagement.
In 2019, the money laundering and terrorist financing trends report of Zambia’s Financial Intelligence Centre disclosed that public officials had influenced the awarding of contracts. Corruption linked to public sector procurement was a major contributor to proceeds of crime.
Unemployed young people and households struggling to meet basic needs against escalating prices of essential commodities blamed the government for the worsening conditions.
Widespread and extreme rural poverty and high unemployment levels remain significant problems, made worse by a high birth rate, a relatively high HIV/AIDS burden, by market-distorting agricultural and energy policies, and growing government debt. Zambia raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015. Concurrently, it issued over $4 billion in domestic debt and agreed to Chinese-financed infrastructure projects, significantly increasing the country’s public debt burden to more than 60% of GDP. The government has considered refinancing $3 billion worth of Eurobonds and significant Chinese loans to cut debt servicing costs.
The National debt in relation to gross domestic product (GDP) was 60% in 2015 to 118% in 2021, the combination of high government debt and a weak economy meant that Zambia couldn’t service its debts. Former president Lungu’s government had a fallout with international financial markets after it defaulted on debt repayment in 2020. The International Monetary Fund (IMF) had refused to bailout Zambia in 2016 over concerns about government’s commitment to economic reforms.
The IMF resumed talks with Zambia to reform the economy in February 2021, but a deal was unlikely until after the election, which the newly elected president Hakainde Hichilema won.
Hichilema faces the daunting task of undoing the culture of violence and extortion in the political arena by party “cadres” - unemployed men who extort money, provide informal security for party elites, and disrupt opposition events. Hichilema will have to tame his own party cadres, and restore sanity through impartial application of the law to set Zambia back on the path of democratic consolidation.
Thank you.
Answers
Only 1 answer
Best Answer
No best answer has yet been selected by chancymoyo. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
There aren't going to be many people her on this UK-based site with knowledge of the Gambian economy, so you might struggle to get meaningful answers.
However the word 'current' in your question must surely be an indicator that it might be worth considering the issue that's currently affecting every economy in the world, i.e. Covid-19.
Some possible starting points for you:
https:/
and
https:/
However the word 'current' in your question must surely be an indicator that it might be worth considering the issue that's currently affecting every economy in the world, i.e. Covid-19.
Some possible starting points for you:
https:/
and
https:/
Only 1 answer
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.