World Bank ready to help Zambia prepare for copper price volatility

The World Bank said on Thursday that it stands ready to help Zambia prepare for potential copper price volatility.

World Bank Country Manager for Zambia Ina-Marlene Ruthenberg said the assistance will entail exploring alternative scenarios and appropriate arrangements for sound fiscal management and monitoring over the medium-term as well as for developing contingency plans.

"This I believe will help Zambia with some coping mechanism each time the copper prices fall. We have come to learn about the cyclical nature of the copper prices and each time it falls, it brings about economic hardship particularly to the poor," she said in a press release following the release of a new report that highlights the importance of prudent resource management and sound economic fundamentals for mineral resource-dependent countries like Zambia.

Africa's second largest copper producer is feeling the effect of depending on copper following the decline in copper prices on the international market. Endit