“So Who Can Make Such a Promise That We Will Put the Exchange Rate at 8 Kwacha?”
….as he questions Government’s Claims on Economic Promises….
Lusaka, Zambia 2nd November, 2024
Mkaika Member of Parliament Hon. Peter Phiri yesterday raised a series of pointed questions concerning the government’s progress on campaign promises. At the center of Hon. Phiri’s questioning was the government’s economic performance, particularly the high exchange rate, currently around K27 to the dollar, despite earlier promises to stabilize it.
Hon. Phiri began by asking, “Your Honour, you are on record claiming your government has fulfilled 80% of the promises to the Zambian people. But I ask, when we look at major promises like the exchange rate, how can you say 80% is fulfilled? The exchange rate is still high at 27. Was it not promised to the people that by 14 hours on the day of inauguration, the exchange rate would fall to K10? What is it, then, that you have delivered to achieve this claimed 80% when Zambians are still waiting for these promises to materialize?”
“What about the cost of mealie meal? How does that factor into this 80% fulfillment? And if we’re still facing high costs in essential goods and services, what does that mean for the average Zambian family?” he pressed.
In response, the Vice President Nalumango countered by questioning the interpretation of these campaign promises. “Honorable Member for Mkaika,” she began, “where in our manifesto did we commit to bringing the exchange rate to K10 or any specific figure?
“Let us face this thing, maybe what I’ll do is bring my manifesto and then we start ticking together. But then why are you referring to not reaching 80%? Because it’s 80% of our promises. And the example you have given, number one, it could be one of the 20%, but this, the example you have given, Honorable Member for Mkaika, was never in our manifesto. It was never in our manifesto. You can never, it doesn’t matter how upset you get, you can never stand here anywhere and say the exchange rate will be two kwacha or 10 kwacha. That is always fluctuating ask him, including yourself, I ask you. It fluctuates”
“So who can make such a promise and say we will put it at 8 kwacha?”
Prior to the August 2021 elections President Hichilema, promised Zambians that immediately after being sworn in at 10:00 a.m., the exchange rate would drop significantly by 14:00?