Impact of gec on lics trade
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Impact of GEC on LICs Trade. A case of Zambia. Tina Nanyangwe - Moyo Coordinator: Debt, Aid and Trade Programme JCTR/ Jubilee-Zambia. Impact of GEC on LICs. The impact of GEC on LICs has been substantial and significantly varied

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Impact of GEC on LICs Trade

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Impact of gec on lics trade

Impact of GEC on LICs Trade

A case of Zambia

Tina Nanyangwe - Moyo

Coordinator: Debt, Aid and Trade Programme

JCTR/ Jubilee-Zambia


Impact of gec on lics

Impact of GEC on LICs

  • The impact of GEC on LICs has been substantial and significantly varied

    • Ethiopia: 2 Israeli-owned flower farms put up for auction for failure to service bank loans due to reduced export sales

    • Uganda: Coffee exports to decline and Direct Budget Support of 60% annually to drop. 80% of workforce in agric at threat of job losses

    • Congo, D.R – Suffered major job losses of over 300,000 due to closures of copper mines


Impact of gec on zambia

Impact of GEC on Zambia

  • 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)


Challenges to trade in zambia

Challenges to trade in Zambia

  • Inadequate access to markets

    • Huge transport costs for landlocked countries

  • Dependency on one single export commodity

  • Lack of value additions to products

  • Lack of credit facilities for traders

  • Meager economic growth has not improved capital accumulation


Responses by lics

Responses by LICs

  • Bangladesh; setting up of a core group to assess the impact of the crisis and offer responses

  • Many waiting for IFIs to help


Responses by ifis

Responses by IFIs

  • Increasing financial resources through loans

  • Increasing technical assistance


Possible responses for zambia

Possible responses for Zambia

  • Improve domestic demand

  • Invest in agriculture

    • 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


Possible responses for zambia1

Possible responses for Zambia

  • Targeted infrastructure devpt based on national priorities

  • Need to constitute a core group to identify priority responses??


Impact of gec on lics trade

  • I Thank you!

  • Website: www.jctr.org.zm


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