Economists Welcome Government Mining Currency Policy By Ellen Hambuba and Report by Daisy Mulenga Financial Economist BRIGHT CHIZONDE says the government’s decision to allow some mining companies to pay their tax obligations in Chinese currency is a progressive step. Mr. CHIZONDE told ZNBC News that the move will help reduce the government’s cost of debt servicing. He noted that Zambia’s gross international reserves are not entirely denominated in US dollars, despite being reported as such. Mr.

GOVERNMENT CLARIFIES USE OF CHINESE CURRENCY Government has clarified that the decision to allow the payment of some mining taxes in the Chinese currency, the Yuan, also known as Renminbi, is a strategic and cost-saving measure aimed at improving debt management and reducing foreign exchange conversion costs. Minister of Finance and National Planning, Situmbeko Musokotwane, says the measure should not be interpreted as a shift from the Zambian Kwacha, which remains the primary legal tender for d