아세안

In 2021, Zambia became the first country to default on its external debt after the Covid-19 pandemic. The mining sector is a bedrock of the country’s economy. Since 2010, mining has played an increasingly significant role in Zambia’s GDP. However, the country has struggled to attract or retain investment owing to significant policy instability. In 2018, Zambia raised its royalty rate for the 10th time in 16 years, withheld value-added tax refunds, imposed double taxation as mineral royalties were no longer tax deductible, adopted a resource nationalism approach by implementing a 5 percent import duty on copper concentrates, and created an environment with uncertainty of tenure. Production dropped despite strong copper prices. According to the Zambian Chamber of Mines, in 2019 companies withheld over $650 million in investments.