Business Maverick: Zambia approves cannabis exports to boost economy

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Business Maverick: Zambia approves cannabis exports to boost economy By Reuters

The approval for the export of cannabis was granted at a special cabinet meeting on Dec. 4, spokeswoman Dora Siliya said in a statement. It was not clear from the statement if the use of cannabis for medicinal purposes in Zambia had been legalised.

Zambia’s motivation is rooted in a hefty fiscal deficit and growing debt burden. Growth in external debt to $10.5 billion at the end of 2018 from $8.74 billion a year earlier has raised fears the country is headed for a debt crisis. Zambian opposition Green Party President Peter Sinkamba, who has been advocating the export of cannabis since 2013, said the move could earn Zambia up to $36 billion annually.

 

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