‘Climate risks, floods utmost threat to financial stability’
By BUUMBA CHIMBULU
A SURVEY conducted by the Bank of Zambia has revealed that firms view climate risk relating to drought and floods as the greatest threat to financial stability in terms of potential impact.
This was followed by higher inflation, liquidity risk, threat of cyber-attacks, increased load shedding, lower domestic growth and default risk on loans to households and firms.
The Systemic Risk Survey (SRS) was rolled out in October 2024 to enable the Financial Stability Committee gain insights into market participants’ perceptions of systemic risk in the near term.
This is contained in the October 2024 Financial Stability Report released by CLICK HERE TO READ MORE
