Zambia Dedollarization Drive Is Key Test for Pro-Business Leader
- Central bank says currency rules will help fight inflation
- Businesses say the planned rules are punitive and hostile
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Zambia’s proposed regulations that could impose 10-year jail terms for using foreign currency in local transactions have raised questions and criticism from local businesses, in what could be a crucial test of President Hakainde Hichilema’s pro-investment government.
Companies argue the new rules would hurt growth and investment, while fueling the inflation they’re meant to contain.