Establish Exact Cause of Kwacha’s Depreciation – JCTR

The Jesuit Centre for Theological Reflections (JCTR) has called on Government to establish what exactly is causing the Kwacha to continue depreciating.
JCTR Director Fr. Leonard Chiti has told Qfm in an interview that it is clear that government does not know what exactly is causing the kwacha to continue losing strength against major convertible currencies.

Fr. Chiti notes that the revocation of SI 33 and 55 has not in any way helped the kwacha to rebound as anticipated.

He adds that the free fall of the kwacha has continued to have a negative impact on the cost of doing business in the country, stressing that the impact is also trickling down on the poor majority Zambians.

Fr. Chiti states that as long as the kwacha continues to depreciate, the cost of living for the majority Zambian people will continue to go up, thereby increasing the levels of poverty in the country.

He says government should seek advice from relevant stakeholders on how best the Kwacha can be strengthened.

Posted by Editor on June 3, 2014. Filed under LATEST NEWS. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

8 Responses to Establish Exact Cause of Kwacha’s Depreciation – JCTR

AFRYKA

June 3, 2014 at 11:06 am

Zambian shinda paper
kakolwe

June 3, 2014 at 12:54 pm

Seriously so. I also believe that OUR Finance minister is out of his league. APA pali chipantepante. Really ‘digging deep’ is really necessary. Really, really, really, the cause needs to be discovered, otherwise, we are yet to sink, deeper.
wisdom

June 3, 2014 at 1:40 pm

How educated are educated zambians? those teaching economics where are you? Are you also like our paper engineers! show us the meaning of those degrees and PHDs in economics by advising the Government
jamakudi

June 3, 2014 at 2:06 pm

@Wisdom, when u advise pipo and they insult u back instead, what do u do? Arrogance breeds ignorance.
wisdom

June 3, 2014 at 4:08 pm

jamakundi the way we advise matters. which mistake has PF made which has lead to depreciation of kwacha? what shud we do to change the vise? if you ask a teacher why the performance of pupils in govt skus is bad they will give you answers. Economists pliz help me
ChiKA

June 3, 2014 at 5:02 pm

PF is busy sorting trivial matters such as freedom of assembly, where is HH? and prosecuting former leaders, while the economy has come to a stand still. Just fire the Finance Minister and his BoZ counterpart!
Memena Mwanalunshi

June 3, 2014 at 8:10 pm

Now that all the ECONOMISTS in our country with PHDs hv come to a stand still(comfused) on what is causing our kwacha to depreciate , we can try to consult the WITCHDOCTORS . It z jst a suggesion pliz.
Matula Richard

June 5, 2014 at 1:37 pm

Ever since expert rates started getting their salaries in kwacha, Dollar is very little in the circulation that is the major reason why it is to expensive to buy dollar