The Kwacha is in full flight as the world’s poorest performing currency with its devaluation racing beyond K26 per US$.
But they say it’s the Patriotic Front to blame.
●They say they received investment pledges of $40billion in 2023.
● In 2022, World Bank released $750million, the largest single disbursement in a year to a poor country.
● $561million from IMF.
● World Bank has just released a grant of $125million
● They have borrowed $6billion in two years.
● They are now running the national budget depending on the support of the EU, USA, IMF and World Bank, the first time in 20 years. The national budget funding had reached 60-70% run from domestic resources.
● They have given unimaginable tax incentives to the mining sector robbing the country of precious tax revenue to boost domestic revenue.
● They have given KCM to a bankrupt investor who has failed to start and they have given MOPANI to an unknown, unlisted company, maybe a shell for themselves.
● They missed a chance to close the $3billion debt restructure by asking for kickbacks! Now the entire debt restructure deals lie in abeyance.
They say it’s the Patriotic Front to blame.
But the country is experiencing the worst-case of cost of living, high prices of essential foodstuffs, fuel and electricity.
They say it’s the Patriotic Front to blame!
They won’t recognise their own failures, corruption, wasteful expenditure ( for example 63 presidential international flights, Ministers live in the air), the wide-spread grand acts of corruption and bungling of economic sectors such as agriculture and mining.
They say it’s the Patriotic Front to blame.
Emmanuel Mwamba
Time waster.
Wait till the economic parameters come togather .
We know you are praying for doom.
That won’t win you power it’s what you can do diffrent other than criticism and praying for doom to the devil. Lol
But Hakainde was boasting, only after a few months in office, how he had made the Kwacha the best performing currency in the world. Was PF responsible for that Kwacha appreciation?
Learn to take responsibility.
Hakainde is totally clueless on the Kwacha. His only solution is to blame PF.
1 PF borrowed 12.9 BILLION USD.
2 PF killed the mining sector which is dambia’s main source of forex. Who else should we blame apart from Lungu and his minions?
Indeed, the K performance is unacceptable. We would have expected some intervention but nothing is being said. Is the K on its own or there are people managing it? Why do we pay people at BoZ if they can’t give us any hope?
I am afraid there is currently no solution to the dying Kwacha.
I told you so just a few months ago.
However, this is not a time to celebrate.
Silly stupid illiterate idiots it’s not only the kwacha u are even better off ask your neighbours Zimbabwe do they even have a currency? Learn to appreciate that kwacha is still for Zambia.All other countries currencies are poorly performing but they don’t blame the president it’s u pipo with grudges against HH who are complaining . Visit other countries not muli ndwiii bamakaka
Awaeee Mwamba is on firm ground,all what he has said are facts,tell us what you know about his position,tell Ur fixer and kalusa to reduce cost of living after getting a lot billions of dollar but Ka economy no bwino bwino
Emma Mwamba should be termed as the PROPHET OF DOOM. He is learned enough to know that many currencies are facing hard times. Check our neighbouring countries plus some of them were not wrecked by a previous government that left the country ravaged and debt struck like what HH is trying to clean up and restore from the PF party. Emma your hate for HH is one-day going to consume you and you l burst into flames. Chill my guy.
But what Mwamba is saying is truth if at all you have new versio. Just counter react to his position.Upnd mulenya mulelapila.where is your fixer small god.He is clueless
Yes it’s PF to blame starting with the nimcompoop Sata who contracted the eurobond debt them continued by Lungu who added to that debt.
It will and shall always be the cockup by PF.
They put Zambians in debt and stole the money at the same time. Even chikala’s like mwamba enjoyed our money
We wouldn’t be talking about Debt Restructuring if the same people who are trying to lecture us were more responsible with their Kongola Twibe Ubomba Mwibala!
How do we expect the Kwacha to appreciate when we are holed up in deep bad debt?
We defaulted on the 2022 Eurobond! The next Eurobond is due this year 2024 and the next is due 2027!
A cumulative total of nearly $4 Billion in Eurobond debt which the creditors are refusing to restructure!
We should consider ourselves lucky that some debt restructuring has taken place following change of government in 2021 otherwise if PF had gone through, the Kwacha would have been in free fall immediately after elections and this time, the Kwacha would be trading in the hundreds to a USD!
We would be having fuel shortages by now. Civil servants would be months in Salary arrears!
I think we need to preach this every day for people to see through the desperate PF lies!
Fortunately voters do not believe your lies, and those of whom you represent, your small god.
For the entire 10 years PF were in power, citizens did not experience high cost of living as they are doing right now. Nor did the Kwacha perform this badly. This is what voters know, and no amount of lies by your small god can convince them otherwise.
Unfortunately for voters, things will get a lot worse very soon. Even you Chikubabe will start blogging only once a month to save on bundles.
Ba Indigo, when PF came to power in 2011, the exchange rate was K5 to the US$. When they departed in 2021, the rate was K22 to the US$.
So you cannot claim that the Kwacha has never performed so bad before!