Opposition Alliance for Democracy and Development (ADD) president Charles Milupi has observed that any attempts to manipulate the exchange rate by injecting money on the market can only give temporally relief on the country’s currency.
Mr. Milupi says what is required to stabilize the Kwacha’s exchange rate is the strengthening of the economy so that investors and operators that generate foreign exchange have confidence in the country’s economy.
Mr. Milupi says when investors and operators alike that generate foreign exchange have confidence in the country’s economy it will be then that they will be able to offload their export earnings in the economy and ultimately build on the stabilization of the country’s currency.
The ADD leader has however observed that with the current situation where the Central Bank has injected US$178 million on the country’s market, it will mean that once investors no longer have confidence in the economy, capital flights will resume and the Kwacha will continue to slide.
The opposition leader says this is why it is important that the Central Bank induces confidence in the country’s economy.
He has told Qfm news in an interview that it is further important that government becomes fiscally disciplined to avoid budget overruns.
What do you expect from this government of empy tins that has no long term strategy…they only think about the next by election.
Yes it is and it’s Quantitative Easing .Britain did it in 2011 and 2013 there is absolutely nothing wrong .
That is my VALID email address, you dunderheads!
PARTIES LIKE ADD ARE A WASTE OF POLITICAL SPACE.
WHY HAVE A PRESIDENT FOR A PARTY WHEN THAT PARTY NEVER GARNERS
MEANINGFUL VOTES APART FROM HIS HOME CONSTITUENCY.
MILUPI, LIKE MULONGOTI (et al) SHOULD JOIN EITHER MMD OR UPND TO BE SIGNIFICANT.
@analyst. Spoken like a man!
Look at the inter bank fx trades the injection is onnly efective if it works eficiently otherwise the bank of zambia injection of the USD will only promote the carry trade tactics or strategies by knowlegeable currency traders.short selling low yielding currencies and going long high yielding currencies defeating BOZ efforts the solution is in trade $ cash flow imbalances on the CA $ BA of payements knowing the currency relationships is also important
You are a really confused and fake Analysts!! Why are you contradicting yourself within one statement? Go to night school and learn proper Economics!
Charles Milupi emuntu ulanda fye ifyamano. Chalibipa aka pani kakwe teti kakule. Zambian voters love mediocrity (ubututu bwa fula mu cintubwingi). Mediocre individuals like ba Chilufya Sata thrive in such environments where their comedy routines win over the mediocre majority. Bo Milupi mule kokanyapo uke landa limbi ifi puba fyesu fikasuka fikomfwe.
But Mr Milupi sir, this injection is pumped in due to strong market forces which has caused the kwacha to be unstable according to PF, so they are hoping for those market forces to shift positively in good time which will lead to the stability of the currency once again! Government and BOZ are reading this situation differetly than you Sir, infact, they hope this injection will convince the investors and other traders to have faith in their trading. We shall see how long this injection will hold, hopefully for a long time for Mother Zambias’ sake!
Milupi is one untrustworthy politician who is attacking the Govt with Soft gloves so that he can gain favours from GRZ!
Young Zambians should not even waste their time on this Cameleon and Pseudo politician who has proven himself as a PF lackey. Milupi is in fact a Core PF Supporter who is fighting genuine opposition politicians for his personal benefit through Govt Contracts!
Not temporal but temporary, ba LT naimwe. Get your grammar on course.
no it is temporalu in lozi
Mr Man Chilyata its not sustainable knowing i hope you understood my simple comment which others have as repeated by former BOZ governor Cabed Fundanga
In simple words buying good recording dollars and selling the kwacha whilst keeping the offloeaded in reserves to wait for further gains especially knowing the relationship with the USD and kwacha
Its good the minister followed suit and revorked to promote and ensure the margin losses that may result by boz are minimised
Donot be personal and comfront the topic otherwise you showed much ignorance as comfirmed by others