World Economy

Zambia Issues Prayer Call for Economy

Zambia Issues Prayer Call for EconomyZambia Issues Prayer Call for Economy

As Zambia’s currency has swooned to record lows, local reports say the country’s president has called for a national day of prayer to reverse the country’s fortunes, exacerbated by a prolonged slump in worldwide commodity prices and China’s downturn. Zambia’s Post reports that amid a plunge in the country’s copper output and a credit downgrade, President Edgar Lungu has called for a day of prayer and fasting to help reverse conditions. Last month, Moody’s Investors Service downgraded the country’s rating deeper into speculative territory, following Standard & Poor’s downgrade in July. Lungu’s plea, however, has been met with widespread skepticism and outright hostility from within the country.