Rapid depreciation of the Kwacha is worrisome – Hamaundu

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Financial analyst Mambo Hamaundu has described as worrisome the rapid depreciation of the Kwacha in the last few days.
He has observed that there could be something the country is not doing right in efforts to stabilize the kwacha.

Mr. Hamaundu says if things are being done correctly, the kwacha would not be depreciating at the rate it is losing ground.
He says the challenge is on the leadership to act and not simply make mere pronouncements.
Mr. Hamaundu says there is no room to relax in trying to stabilize the Kwacha, but that the task requires hard work.
He notes that it appears people are comfortable and not doing much to help stabilize the Kwacha’s rapid depreciation.
Mr. Hamaundu states that the poor who are the majority of Zambians are feeling the impact of the depreciating kwacha hence the need to quickly act and remedy the situation.
He says it is the responsibility of the government to ensure that the cost of living is reduced and that one way of doing so is by stabilizing the kwacha.

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