ECONOMIST Dr Trevor Hambayi says the country must aim to attain at least $50 billion in reserves to create a sovereign fund that addresses budget execution, debt and industrialisation. Zambia’s reserves currently stand at $6.5 billion, equivalent to 4.4 to 5.7 months of import cover. Responding to a query, Tuesday, Dr Hambayi said high reserves, equivalent to three years of import cover, could be used to address the country’s challenges. “Firstly, we must stop using the metric around import cover, it is narrow in its approach and the amounts are limited. Think of 4 months and how long COVID lasted – it defied everything we had anticipated. Our target must be two to three years of import cover, which means…
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