PROMOTE DOLLAR USE IN THE U.S NOT ZAMBIA, HAABAZOKA ADVISES IMF
Economist Dr. Lubinda Haabazoka says the International Monitory Fund-IMF’s call for Zambia not to de-dollarize its economy is an offside call which should not be entertained
Dr. Haabazako has instead advised the IMF to encourage American to use dollars in America and not in Zambia.
He says what the IMF should instead be doing is provide advice on how Zambia can diversify its economy, increase its manufacturing base and produce goods to export
Dr. Haabazoka says section 4[2] of the Bank of Zambia Act 1996 mandates the Bank of Zambia to issue Zambian currency banknotes and coins as legal tender and that one kwacha shall be equal to 100 ngwee.
She says what the IMF should be doing is encouraging the country to follow its own laws and regulation and not interfering in the implementation of the law.
Meanwhile, he Center for Policy Trade and Development CTPD Head of Research Ibrahim Kamara says de-dollarization is an essential step to restore not only the Kwacha’s respect, but also for long-term stability and growth of Zambia’s financial system.