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5 Kwacha
| Issuer | Bank of Zambia |
|---|---|
| Year | 1980-1988 |
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| Composition | Log in to see details |
| Size | 138 × 70 mm |
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| Obverse description | An intaglio-engraved vignette of a African fish eagle perched on a branch occupies the centre-left, set against a light guilloche underprint with a plant motif. The Zambian coat of arms with the motto ONE ZAMBIA ONE NATION appears below centre, accompanied by the Governor's signature. An engraved portrait of President Kenneth Kaunda is at right, with denomination numerals and Kwacha symbols at all four corners within a geometric border underprint. |
|---|---|
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| Protection description | Watermark portrait of President Kenneth Kaunda, visible when held to light |
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| Comments |
The P#25 series spans nearly a decade, bridging Zambia's post-independence optimism and its grinding debt crisis of the 1980s — by mid-decade the country was among the most heavily indebted in sub-Saharan Africa relative to GDP. Kenneth Kaunda's government briefly suspended IMF repayments in 1987, capping debt service at 10% of export earnings, a move that effectively ended formal relations with the Fund until 1990.
Thomas De La Rue held the contract throughout the entire run, a continuity that kept production quality consistent even as Zambia's economy deteriorated around the notes themselves.