Kwacha still under pressure – Hamaundu

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Financial Analyst Mambo Hamaundu says the kwacha might continue coming under pressure despite it showing some recovery in the past few days.
Mr. Hamaundu notes that the country has not done enough to see the kwacha rebounding citing that the appreciation in the past days can be attribute to a substantial amount of supply coming onto the market.
He explains that fundamentally, the economy is still under stress owing to the mines closing and other factors which would trigger the fail in the kwacha going forward.
And Mr. Hamaundu says Zambians should brace themselves for difficulty times as the prices of goods and services are likely to continue rising.
He says the country needs a lot of commitment if things have to change adding that as long as the country continued to depend on imports and minimal production activities, the cost of living will continue to go up.
Mr. Hamaundu further states that a lot need to be done if the appreciation of the kwacha is to be sustained.
QFM

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