KWACHA STABILITY IS POLITICAL MANIPULATION AHEAD OF AUGUST POLLS – PF MP
By: Thomas Afroman Mwale
Patriotic Front Feira Member of Parliament Emmanuel Tembo has described the recent appreciation of the Kwacha against major convertible currencies as political manipulation, alleging that the government has offloaded more United States dollars onto the market to control volatility of the local currency.
Mr. Tembo claimed that the Kwacha’s appreciation is linked to the upcoming general elections, questioning why load shedding appears to have ended and currency stability has been achieved barely five months before the polls.
Speaking when he featured on Millennium TV’s Pulse Nation, the lawmaker predicted that Zambians will be shocked immediately after the August 13 general elections, alleging that the Kwacha could depreciate to as high as K30 to one US dollar, with load shedding resuming.
He described the trend as an old style of politics, which he said only brings temporary improvements in the state of affairs in the months leading to elections.
His comments follow Thursday, 5th February exchange rate figures, which showed the Kwacha trading at K18.41 ngwee to one United States dollar on the buying side and K18.78 ngwee on the selling side.
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Lol
Why didnt the PF try this trick in 2021 🙂
The goodness is August is a bit of a stretch, if the ruling party are manipulating the currency, it will depreciate again by then, there is not enough dollars lying around to sustain ‘managed’ currency appreciation
People should learn to appreciate and positively acknowledge the efforts of political competitors. This is the same gang of thieves who plundered the national treasury and borrowed recklessly with no concern about the consequences of defaulting on sovereign loans.
They have been cursed to wander in the political wilderness, not knowing which direction to come or go to.