DOLLAR IS GOING UP BECAUSE PF HAS HIDDEN PART OF IT IN SACKS
OBVIOUS Mwaliteta claims the Patriotic Front is behind the depreciation of Kwacha against major currencies.
The UPND Lusaka Province Chairperson claims he has information from within PF suggesting that members of the former ruling party have buried sacks of money underground thereby causing the local currency to depreciate. Asked which currency PF allegedly buried, Mwaliteta claims they buried dollars.
“What is happening is that pf have a lot of dollars that have been put underground. So this is causing a shortage of dollars. And you know that when dollars are in short supply then there is demand for them. There is lots of kwacha chasing few dollars on the market. So basically that is why Bank of Zambia has now decided to mop out some kwacha on the market so that the supply between dollar and kwacha is almost the same” Mwaliteta says.
And Mwaliteta says he knows about the law of supply and demand because he also did Economics foundation is one of his degree programs.
“By the way am an economist. I have done some of economic theories so I know what is happening. I I just chose to keep quiet but overall, am well learned.”
Asked when exactly he was studying Economics, Mwaliteta said a long time ago before UPND came into power.
And when further challenged how possible it was for him to study a degree in economics before having a full grade 12 certificate given that he only acquired 6 points immediately when UPND won elections through GCE, Mwaliteta fummed and cut the call.