The Economic Policies of Zambia in the 1980s: Towards Structural Transformation with a Human Focus?

Venkatesh Seshamani

Chapter 5 in Africa’s Recovery in the 1990s, 1992, pp 116-134 from Palgrave Macmillan

Abstract: Abstract Zambia entered the 1980s in economic crisis. The origins of the crisis have often been traced to 1975. The country’s terms of trade fell that year to 54 per cent relative to 1974; a balance-of-payments position which had been comfortable in 1974 went into deficit, with the current account amounting to 30 per cent of GDP; government revenues from minerals dropped to less than one-fifth of the previous level, and the budget, which had been in surplus in 1974, moved to a deficit equivalent to 24 per cent of GDP. By 1980 real per capita income had slumped to just one-half the 1974 level and by 1984 to less than one-third of that same level.

Keywords: Exchange Rate; Foreign Exchange; Realistic Exchange Rate; Money Supply; Informal Sector (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-22344-2_6

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