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Magande Explains Fall Of Kwacha
Former Finance Minister Ng’andu Magande has attributed the continued depreciation of the kwacha to loss of investor confidence in Zambia’s economy.
Mr. Magande says one of the things investors look out for are the policy statements made by government officials.
He notes that the Kwacha has been depreciating at a fast pace for the last six months than never before in the history of the country.
Mr. Magande states that the depreciation of the Kwacha also calls for the need to look at the governance of the country.
He has urged the PF government to ensure that they formulate policies that will help strengthen the Kwacha against the major currencies.
Posted by
Luapula Fish
February 28, 2015 at 5:42 pm
I can not fully agree with what the respected economist is trying to depict . The currencies of most african countries have drastically depreciated i the last few months ,this includes south africa,botswana,Ghana and many more to mention .Does this also the same reason for depreciation applies to these other countries ?
Phiri
February 28, 2015 at 8:42 pm
Luapula fish I’ve got businesses in South Africa and Botswana and I am feeling the pimch of the fall as my cash shrinks