Opposition UNPD president Hakainde Hichilema has observed that Zambia’s volatile foreign exchange market boils down to lack of capacity by government to control costs.
Mr. Hichilema says this also explains why the exchange market has also continued to depreciate the Country’s currency the Kwacha.
He notes that the sharp depreciation of the Kwacha is however a reflection of how efficient and productive the Zambia economy is currently.
Mr. Hichilema who is also an economist by profession thinks that the Country’s economy has now collapsed and is dysfunctional.
He says this is evidenced by the how negative all perimeters that can be used to measure the performance of economy are as a result of failure of leadership on the part of the government.
Mr. Hichilema has observed that the unfortunate part of this is that this has only happened in the last 8 months that President Edgar Lungu has been the Country’s Head of State.
He is of the view that if the PF government understood what it was doing it could have manipulated economic variables and thereby reduce the degradation of the Zambian economy.
Mr. Hichilema was speaking this morning on a special Radio Qfm live phone in interview in Lusaka.
And Mr. Hichilema has described as deception and abuse of the name of God President Lungu’s call for a national prayer and fasting for reconciliation this month.
Mr. Hichilema has wondered how President Lungu can make this call when people in his government are allegedly living extravagant lives despite failing to provide economic policies that can help the country come out from the current economic crisis.
He notes that before calling for national prayer and reconciliation President Lungu should have acknowledged and remedied the factors that are causing frictions among the Zambian people.
Mr. Hichilema says President Lungu should have reflected and addressed factors such as those that make people feel that there is no justice in the country.