ECONOMIST Dr Nicholus Mainza says Moody’s Ratings’ decision to upgrade Zambia’s credit rating shows that external creditors have confidence in government’s leadership to manage finances. However, economist Bright Chizonde argues that Moody’s rating of Zambia is still in the “junk” category, but reflects sustained improvements away from the extremely speculative grade. Recently, Moody’s Ratings upgraded Zambia’s sovereign credit rating from Caa2 to Caa1. Commenting on this in an interview, Tuesday, Dr Mainza said the upgrade meant that Zambia had demonstrated prudent use of credit and would now attract more resources. He further said the rating meant that Zambia was ripe for investment. “The new ratings from Moody’s Ratings shows that even the external creditors have confidence in the leadership in...