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World Economy

Zambia 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.