Zambia’s proposed ban on foreign currency transactions, punishable by up to 10 years in jail, may counteract its intent by exacerbating inflation, warns the IMF. The policy aims to combat the economy’s growing dollarization, undermining inflation control measures. The central bank’s move comes as businesses resist the “punitive” regulations amid rising annual inflation, which reached a 29-month high of 15.2% in June during a severe drought and following a challenging debt restructuring.