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[On 24 October 1964, the landlocked British protectorate of Northern Rhodesia emerged as the independent Republic of Zambia under the administration of the United National Independence Party (UNIP) and its first black nationalist President Kenneth Kaunda. As the largest producer of copper in the developing world and holding more than a year’s GDP in foreign reserves, Zambia was widely seen as one of the wealthiest — and most likely to succeed — of the new democracies emerging from colonial Africa.1]
Published: Dec 21, 2015
Keywords: Central Committee; Market Response; Policy Signal; African National Congress; Foreign Reserve
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