Embarrassing Kwacha: Chikwanda may reverse statutory instruments numbers 33 and 55

Opposition UPND president Hakainde Hichilema says there is nothing global about the free falling Kwacha but PF failed policies.

And the Zambianwatchdog can reveal that failed Finance Minister Alexander Chikwanda may today eat a humble pie by suspending statutory instruments numbers 33 and 55 in a desperate efforts to save the Zambian currency that has become a laughing stock the whole world.

Speaking when he featured on Hot FM yesterday, Mr. Hichilema said he predicted a long time ago that investor confidence will be lost and the Kwacha would lose value by implementation of statutory instruments number 33 and 55 that imposed restrictions on local currency.

“I have been vindicated once again and there is nothing global about the bleeding Kwacha. It is simply the PF failure to understand serious economic fundamentals that are making the Kwacha lose value at fast late,” Mr. Hichilema said.

He said the PF should for now suspend the statutory instruments that heavily regulate the Kwacha for the sake of mother Zambia and the business community in the country that create jobs.

Mr. Hichilema called on the PF government to be consistent with certain statements and actions as they can easily affect investor confidence.

“For example, when you promise to deliver a people driven constitution and later someone turns around like Mr. Sata and Guy Scott are doing by saying this is just a piece of paper, such statements scare away investors because they fear you have no regard for the rule of law. Investors fear you will one day just wake up and make decrees that will make them lose their money.

When you wakeup and deport the Chilanga cement Managing Director like the PF did without following the law, investors get scared and there is nothing global about such lawlessness hence the Kwacha rapid depreciation,” he said.

Mr. Hichilema said even actions such as arresting and denying opposition leaders and other people certain liberties that are enshrined in the constitution can cause economical and political instability that weakens the Kwacha.

And the Zambiawatchdog can safely reveal that failed Finance Minister Alexander Chikwanda will this morning eat a humble pie and eat his vomit by suspending the statutory instruments numbers 33 and 55 in a desperate and panic effort to save the now worthless Kwacha.

Chikwanda’s appearance on economic matters will be the first time that a highly ranking PF government official will come out of their hidden face book government and make a public pronouncement with a view to reverse the drowning economy though too late.

Highly placed sources have revealed that Chikwanda will hold a press briefing at 10.00 in his office.

Sources also revealed that Bank of Zambia Governor Michael Gondwe might be sacrificed and be dismissed not long from now though he is not really to blame for the economic melt down.

Sources say Mr. Chikwanda, who is the main causer of the current economic mess, will be saved by Michael Sata as blood was thicker than water.

And sources have also revealed that a number of companies in the country are currently removing their money from the Zambian banks due to unstable economic and political conditions under the PF government hence the weakening of the Zambian currency that has now been labeled the worst performing currency in the world.

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