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Alba Iulia
Thursday, March 4, 2021

Green Party Leader commends Bank Zambia for the effort to control the surging inflation

Economy Green Party Leader commends Bank Zambia for the effort to control...

Opposition Green party leader, Peter Sinkamba has commended the Bank Zambia (BOZ) for the effort to control the surging inflation in the country.

Mr. Sinkamba has advised BOZ to manage the interest rate in order to regulate liquidity.

Mr. Sinkamba urged the Bank to put up measure that will regulation the inflation rate or risk reaching hyperinflation levels such as the experience for Zimbabwe.

“The onus is on Bank of Zambia to be on top of things by applying the monetary policy well to ensure that these issues are sorted out. Otherwise inflation is not good for the economy because it makes a lot of things to escalate,” Mr. Sinkamba said.

He said commodity prices have become out of reach for the poor and those whose salaries and wages are not marching the ever rising inflation.

Mr. Sinkamba further urged the BOZ to be smart in applying the monitory policy to ensure that economic growth is not affected as such will push inflation higher leading to low production of goods and services.

The Green party leader attributed the inflation in the country to low production of goods on the market and hence making consumers to share a few commodities on the market.

The Bank of Zambia announced the increase of the monetary policy rate by 50 basis points from 8 to 8.5 percent as a way to stop the rising inflation.

16 COMMENTS

  1. We thank you for your constructive comments unlike one party’s leader who claims to be a qualified economist and yet all he has ever done is steal during privatisation and continues to politick like a rabbied Bush dog

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  2. I think the country has dodged a bullet with this weed smoker.

    We have seen his true colours.

    He is like a parrot, repeating the same thing….”dobo, dobo, dobo…”.

    Anyone that can salute government control of prices must be high on weed.

    This man Sinkala is full of smoke.

  3. Because sinkala has given his constructive view which happens to be positive about this government, he has now become the enemy of the tonga party. This is how sick and twisted these tribalists are. That is why they will never rule this country..not on my dead body

  4. INFLATION IS HIGH BECAUSE OF THE SHORTAGE OF FOREX BEING MONOPOLIZED BY THE MINING COMPANIES
    GOVERNMENT SHOULD IMMEDIATELY INTERVENE BY COMMANDEERING AT LEAST 25% OF FOREX EARNED BY MINING COMPANIES BY FORCING THEM TO SELL TO BOZ AT SAY 15 KWACHA PER USD. THE KWACHA COULD STABILISE AT SAY AROUND 17 KWACHA TO THE USD.
    GOVERNMENT SHOULD ALSO INSIST THAT FOR EVERY SHOPPING MALL OPENED A FACTORY SHOULD BE COMMISSIONED

  5. Mr Sinkambas advice as usual will be legalise weed growing and
    Export weed.If weed was best business why only a fraction of
    The world is in this trade.

  6. How do you deal with inflation when you don’t have enough industries to absorb the unemployed, manufacture, sell and export goods? You don’t earn enough and the little earned is siphoned off by greedy politicians, you have a huge debt due to reckless unplanned borrowing, you fail to keep up with interest payments and in the face of the declining Kwacha value as a consequence, you still expect to artificially control inflation. You are probably printing more money secretly to plug the ‘gaps’ and dish out for your campaigns – and still expect to stem hyperinflation? Developed countries manage to deal with quantitative easing (creating money) because they can eventually balance it out by the fact they have exporting industries and robust tax regimes. The superficiality that Sinkamba is…

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