There is widespread public understanding that Zambia’s debt default was a result of the previous government both spending too much, far more than the tax it raised, causing fiscal deficits, and borrowing too much – undertaking too many projects. However, …
How to Avoid Future Debt Traps: Only Borrow for Viable Projects Read More »
The main reason why Zambia has experienced continuous load shedding since 2007, and why ZESCO is effectively bankrupt, is that electricity tariffs have been too low for anyone to invest in new capacity. Before committing to invest in power generation, …
The Real Cause of Load Shedding – Zambia’s Low Tariffs Read More »
Zambia’s economic mismanagement of the last decade is a perfect illustration of George Santayana’s famous warning that ‘those who cannot remember the past are condemned to repeat it’. In a history of Zambian economic policy since Independence, I showed how …
