PeP STATEMENT ON GOVERNMENT’S SILENCE REGARDING THE CONTINUED DEPRECIATION OF THE KWACHA – ISSUED ON 11TH DECEMBER 2023
Liberty House – Lusaka
1. As Patriots for Economic Progress (PeP), we are concerned that Government has not said anything regarding what they are doing to address the continued depreciation of the Kwacha, which is now trading at K24.7 to the US Dollar.
2. The last time we heard anything on this matter from Government was more than a month ago when the BOZ Governor said the Central Bank had run out of forex to support the Kwacha.
3. It is worth noting that the continued depreciation of the Kwacha has created a lot of uncertainties and hardships in the business environment and significantly increased prices of goods and services for consumers. Therefore, both business houses and consumers alike are looking up to their Government for assurances that something is being done to address the situation. Unfortunately, Government is very quiet on the matter.
4. As Patriots for Economic Progress, we appeal to President Hakainde Hichilema and his Government to show leadership and address the nation on what he is doing to resolve the continued depreciation of the Kwacha.
Sean E. Tembo (SET)
PATRIOTS FOR ECONOMIC PROGRESS (PeP)