"The dollar is killing us," Zambians lament as its government attempts to restructure its debt

“The dollar is killing us,” said Ben Mwandila, who used to sell 15 imported blankets per month for a profit of 50 kwacha ($2.75) per transaction but is now only selling two or three.

The Comesa market in Zambia’s capital Lusaka appears to be thriving, but vendors say business is suffering as a weak local currency drives up prices, compounding the miseries of a populace already battling with rising living costs.

The kwacha had risen from more than 22 per dollar in July 2021, just before president Hakainde Hichilema entered office, to as low as 15.4 kwacha per dollar in September 2022, supported by trust in the new leadership.

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