Kwacha may lose more value

Kwacha may lose more value

There’s no quick fix to the economic Covid if we cannot produce and EXPORT.

I can see Kwacha losing a further K2 against the Dollar in no time.

The new Governor may even have a shorter lifespan @ BOZ than his predecessor.

Market is likely to react in a volatile mood, worsened by Covid-19 effects, pushed by ZESCO loadshedding that has his industries below the belt.

The best quick fix is not change of guard @ BOZ but summon an urgent ECONOMIC INDABA anchored by EAZ and ZAM gurus.

Otherwise we will be finger pointing at Office holders leaving the huge elephant in the room.

Rampant and abusive wanton Fiscal indiscipline must urgently be curbed as at now.

If international chain stores (Spar) closed doors due to Covid-19 economic slump, few entities may withstand the Covid-19 shocks.

The problem is bigger than BOZ Governorship, requires deep reflection and injection of ingenuity ideas to address the economic slump.

Just my viewpoint.

Emmanuel Chilekwa
22 August 2020

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