STANDARD and Poors (S&P) Global Ratings have upgraded its long-term foreign and local currency sovereign credit ratings on Zambia. The upgrade is to CCC+ / C from SD / SD, confirming Zambia’s exit from default status. Meanwhile, Minister of Finance and National Planning Dr Situmbeko Musokotwane says the decision by S&P Global Ratings is a strong vote of confidence in Zambia’s economic reforms. In a statement, issued by the Office of the Secretary to the Treasury, Sunday, the Ministry stated that the upgrade was a major milestone in the country’s economic reconstruction journey and a clear signal of renewed international confidence. “The Government of the Republic of Zambia welcomes S&P Global Ratings’ decision to upgrade the country’s long- and short-term...