Not exactly the fiscal theory of the price level

Zambia will hold a day of prayer and fasting on Sunday, with bars shut and football matches cancelled, to seek divine help over the country’s currency collapse and dire economic woes.

President Edgar Lungu last month ordered the national prayer session after the kwacha fell 45 percent against the dollar since the start of the year due to a sharp drop in the price of copper, the country’s main export.

Food prices have soared and crippling power shortages have also been triggered by low water-levels in Lake Kariba, where hydropower plants supply much of the country’s electricity.

“God is a god of miracles and if we ask him, he will bless us and the kwacha shall be restored to its former strength and the prices of goods shall again go down,” Bishop Simon Chihana, president of the International Fellowship of Christian Churches in Zambia, told AFP.

“Let’s pray to God to have mercy on us. God has done that before and he can do it again.”

There is more here, via Peter Metrinko.