IF DEBT RESTRUCTURING FAILS; WHAT HAPPENS TO THE KWACHA?
What other options are there for Zambia under Mr Hakainde Hichilema ‘s UPND government rule?
Dr Situmbeko Musokotwane, Minister of Finance, says the Kwacha is depreciating due to the country’s delayed debt restructuring. If he were right, then what would happen to the Kwacha if this debt restructuring totally failed? Zambia’s debt is not new, it hasn’t just arisen.
The Kwacha was, for some time, appreciating on the back of this national debt burden. It even went as low as K15.89 to the US Dollar under this government. But it is reaching K20.70 to the US Dollar under the same government.
Fred M’membe