ECONOMIST WARNS KWACHA GAINS MAY NOT LAST WITHOUT ACTION
By: Sun FM TV Reporter
Economist Niza Phiri has expressed concern over the long-term sustainability of the recent gain by the Zambian Kwacha against major convertible currencies, including the United States Dollar.
Speaking in an interview with Sun FM TV News, Mr. Phiri recognized the strength of the Zambian Kwacha on the international market, citing it as a positive sign, while urging government to urgently address structural weaknesses within its trade systems to ensure lasting economic stability.
He noted that meaningful and regular engagement with key economic stakeholders is critical, warning that failure to do so could expose the country to severe shocks, especially in light of the fragile economic environment.
The economist cautioned that ignoring dialogue and inclusive policy formulation could erode recent progress and derail national development efforts.
He has since called for the implementation of a robust, forward-looking strategy that safeguards economic reforms and delivers tangible benefits across all sectors of the economy.
A Phiri ba kuwalale…very good you have identified the problem. Yes, we have a sustainability issue with the Kwacha dollar exchange rate.
Now offer suggestions how that we can deal with that.
Ife ku school sustainability and green economy was not there. It was Just in time order and other conecpts that were fashionable.
Manje you have degrees in sustainablity. Dont you think the solution lies in those concepts?
Ndwee….an jacket pamupando is not helping crack that brain adada…keep cracking that brain until you will come but to us with an idea.
But at least we glad that kumawa the sun has dawned….sustainabilty has arrived…..
The anticipated economic gain in Zambia is primarily attributed to a significant reduction in imports of maize and electricity, which are two critical components driving the national economy. The stability of the mining sector also plays a crucial role in this situation. Given these factors, I believe that the Zambian kwacha is likely to appreciate further, potentially reaching around 20 by the end of the year. This projected strengthening of the currency can be largely linked to decreased import levels and the potential for increased exports, particularly of maize and copper, both of which are vital to the country’s economic landscape. As Zambia navigates these changes, the interplay between these exports and the overall economic stability will be key to sustaining growth.
Doug please cite your source and basis of this assertion. Its important for us to reference this so that we are able to follow what you mean.
Please share source.