Bank of Zambia Governor Caleb Fundanga says the increase in the price of copper on the global market is an indication that the global economic situation is improving.
Dr. Fundanga says he is happy that copper prices are now improving because the trend is a positive indicator of global economic improvement.
He told ZANIS in Lusaka today that recent rise in copper prices on the global market is a strong signal that the global financial crisis is on the mend.
Dr. Fundanga however said there is need for Zambia to continue concentrating on producing more agricultural products and improve other sectors such as tourism.
He said there is also need to produce other products through harnessing various resources that the country is endowed with.
Dr. Fundanga said diversification of other sectors will prepare and help Zambia cushion the effects of the global economic crunch.
He said production of various products will also shield Zambia from suffering the effects of reduced copper prices in future.
Copper prices had in the recent past hit record low prices of less than US$2 000 from over US$8 000 per metric tone a year ago.
Prices have however shown an upward trend on the global market with a metric tone of the metal costing over US$4000.
ZANIS