Opposition Alliance for Development and Democracy (ADD) president Charles Milupi has observed that strengthening the Kwacha will require more than just revoking Statutory Instruments 33 of 2012 and 55 of 2013.
Mr. Milupi’s observation follows the Kwacha’s continued weakening against global currencies, trading at K6.42 Ngwee against the Dollar as at Monday, 31st March.
Mr. Milupi says the Kwacha’s depreciation is because of lack of confidence in the economy caused by alleged poor policies coupled by the alleged bad governance record of the Patriotic Front (PF) government.
Mr. Milupi has told Qfm news that apart from the revoked Statutory Instruments, the PF government has been spending more than it is able to generate in terms of revenue.
The ADD leaders adds that the PF’s adamancy not to heed to advice from stakeholders has also led to a situation where almost all export earnings are now being kept outside the country despite Zambia being one of the major exporters of minerals.
He says this is why he holds the position that confidence in the economy cannot simply be restored by revoking Statutory Instruments 33 and 55.
M r Milupi has since advised that what needs to be done is for the country to begin to generate foreign exchange itself through measures such as the reintroduction of windfall tax as well as policies that will bring about further export earnings that should be kept in Zambia.
milupi u,re a crook who doesn,t know that u re a pf cadre.bunch of an *****
PF should stop the POA madness and political intolerance in order to inspire confidence in the economy. Only then will Kwacha start to gain.
SI 33 and 55 had just added more fire to the burning Kwacha. Otherwise it is not the main cause of this tumble in the Kwacha. The Kwacha ‘s loss in value is linked to the toxic political atmosphere cultivated by Sata and his PF.
If Sata and the PF have failed they should leave governing to able bodied young men and women who are in touch with modern economic trends.
To be exact they should give way to UPND and HH to govern and restore all credibility lost by our great nation.
UPND and HH are the future for Zambia. HH the only Hope and Help Zambia needs right now.
SATA AND YOUR PF, WE WANT YOU OUT!
@More Plans, so do you think you’ve said anything sensible? Please avoid issues that are way above your station otherwise you will continue ranting about unrelated imaginary issues. Let us have some logic.
HH is the way forward for a better Zambian economy for all Zambians.
Having a diversified look at assets will help to address the Kwacha in value to other currencies Assets with |Zero or negative correlation investing long way before the currency shows its deep having paid particular attention to the econumic indicators warning signs a balanced portifolio type with clear hedges in comodities that have considerable effect on the kwacha the same copper not watching and waiting to be led by multinational mining investors creating markets like in Germ stones will also solidify the kwacha and the markets it trades in
look also at the balance in expansive fiscal and monitory policies learning from india and brazil that have recorded the first in FDI investments and savings
Increase of exports does not increase foreign reverves per se. It is the repatriation of the foreign currency into the economy, in fact, that improvees the forex money supply. The SIs that have been revoked or withdrawn were simply wrongly implemented by the PF regime!