zambia_balance_of_payments

Jun 17th, 2015
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The balance of payments is the method that countries use to monitor all international monetary transactions at a specific period of time.

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The balance of payments is the method that countries use to monitor all international monetary transactions at a specific period of time. The balance of payments includes all trades conducted in the private and public sectors (Investopedia, 2014). Economic growth is determined by the "increase in the capacity of an economy to produce goods and services, compared from one period of time to another" (Investopedia, 2014). Currently the regulations allow the Bank of Zambia to put in place the balance of payments monitoring framework (The Bank of Zambia, 2013).Balance of payment in Zambia has changed with a high rate. The change is a result of the following:First, Zambia accepted strategies of substitution on imports which had an effect on exchange rates and affects exports do to Zambia's poor resource allocation. (Wulf, 2011). Second, protecting trade as well as valuing so much on exchange rate which upgraded domestic prices as well as enabling exports to be less competitive.Thirdly, Zambia's balance of payment has changed due to getting loan from unknown governments which creates more interest in terms of payment hence changing the (Wulf, 2011) balance of payment of Zambia. This burden of paying back debt was the main cause of the change in the payment of balance in Zambia and is an example of barriers to economic growth. Fourthly, there is the net export, net transfer, and net foreign aid which may lead to twice the payment of debt and was a hazard to balance of paymen

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