Tuesday, 19 August 2008

President Mwanawasa

Official notice by the Vice-President of Zambia: President Mwanawasa died today in a Paris hospital after suffering a stroke in June. Our sympathy is extended and our hope that an orderly transition of power will occur.

There will be 7 days of national mourning beginning today and the Vice Presidend has appealed to the public to remain calm in a television address.

The political uncertainty caused by the ill health and subsequent death of the President resulted in the Zambian kwacha weakening. This underlines the robustness of our own hedging approach which is more focused on hedging political risk via currency than shorting individual stocks.

No comments: