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FinObservatory

Crisis atlas / ZMB

Zambia

37 distinct crisis events in 5 episodes, 1950–2015, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

4
Banking crises
21
Currency crises
12
Sovereign debt crises
37
Crisis events
1950–2015
Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

  1. 2015
    Currencygmd, laeven_valencia2 sources
  2. 2013
    Currencyrr1 source
  3. 2009
    Currencygmd, laeven_valencia2 sources
  4. 2008
    Currencyrr1 source
  5. 2000
    Currencyrr1 source
  6. 1998
    Currencyrr1 source
    Bankinglaeven_valencia, rr2 sources
  7. 1997
    Bankinglaeven_valencia, rr2 sources
  8. 1996
    Currencygmd, laeven_valencia, rr3 sources
    Bankinglaeven_valencia, rr2 sources
  9. 1995
    Currencyrr1 source
    Bankinggmd, laeven_valencia, rr3 sources
  10. 1994
    Sovereign debtgmd, laeven_valencia, rr3 sources
    Currencyrr1 source
  11. 1993
    Sovereign debtrr1 source
    Currencyrr1 source
  12. 1992
    Sovereign debtrr1 source
    Currencyrr1 source
  13. 1991
    Sovereign debtrr1 source
    Currencyrr1 source
  14. 1990
    Sovereign debtrr1 source
    Currencyrr1 source
  15. 1989
    Sovereign debtrr1 source
    Currencygmd, laeven_valencia, rr3 sources
  16. 1988
    Sovereign debtrr1 source
    Currencyrr1 source
  17. 1987
    Sovereign debtrr1 source
  18. 1986
    Sovereign debtrr1 source
    Currencyrr1 source
  19. 1985
    Sovereign debtrr1 source
    Currencyrr1 source
  20. 1984
    Sovereign debtrr1 source
    Currencyrr1 source
  21. 1983
    Sovereign debtgmd, laeven_valencia, rr3 sources
    Currencygmd, laeven_valencia, rr3 sources
  22. 1977
    Currencyrr1 source
  23. 1950
    Currencygmd, rr2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1950

Currency
Inflation (% y/y)
Policy rate (%)
No data for this window
Govt debt (% of GDP)
No data for this window

1977

Currency
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1983–2000

CurrencySovereign debtBanking1995–1998: fiscal cost 1.4% of GDP, output loss 31.1% of GDP(Laeven-Valencia 2026)
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

2008–2009

Currency
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

2013–2015

Currency
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology