October 2, 2018 / 2:58 PM / 13 days ago

Zambia mines to pay mineral royalties in dollars to stabilize kwacha

LUSAKA, Oct 2 (Reuters) - Zambia has asked mining companies to pay mineral royalties directly to the central bank in dollars as one of the measures to help stabilise its kwacha currency , its finance minister said on Tuesday.

Margaret Mwanakatwe said in parliament that pressure on the currency of Africa’s No.2 copper producer had lately mounted due to demand for dollars from importers of petroleum products and external debt servicing obligations. (Reporting by Chris Mfula; Editing by Tiisetso Motsoeneng)

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