The Bankers Association of Zambia (BAZ) has warned that any meltdown in the global economy is likely to have a direct impact on the Zambian economy.
Association Chief Executive Officer Leonard Mwanza says while the country was able to navigate through the 2008 global financial crisis, Zambia is currently in a precarious position to withstand such a crisis.
In an interview with QTV News, Mr. Mwanza says for example, Zambia has been directly hit by the rising prices of crude oil on the international market.
He says the BAZ therefore foresees this increased price in crude, which has already resulted in the increase in fuel pump prices, to feed into the Countrys inflation and affect the Kwacha.
Mr Mwanza states that if the price of copper equally start going down as a result of a global financial crisis, there will definitely be a direct correlation in terms of Zambias ability to sustain its economy as there will be some headwinds linked to this.