Kwacha will remain worthless for a long time

Kwacha will remain worthless for a long time

** Some people had thought Bwalya Ng’andu would be a better minister than Margaret Mwanakatwe but he has proved to be the biggest headless chicken ever

By logic Lukwanda & Micheal Kaluba

Financial analysts mambo Hamaundu says it will be very difficult for the kwacha to rebound against major convertible currencies because it is affected by many factors.

Mr Hamaundu tells phoenix news that the local currency has been negatively hampered by the outbreak of the covid 19, debt servicing and generally low liquidity levels in the economy due to subdued economic activities.

And Mr Hamaundu says there is seemingly nothing much that can be done in the short to medium term to have the kwacha strengthened and stable.

The kwacha is trading at 17. 56 Ngwee against one United States dollar.
Meanwhile, Mr. Hamaundu has attributed the continued failure by government to pay salaries to various local authorities and provide funding for state projects among other challenges to failure by the regime to marry pronouncements with consistent action.

This follows none payment of salaries of council, university and college lecturers among others and failure to pay retirees.

Mr. Hamaundu explains that technocrats already foresaw Zambia’s current challenges which caused the fiscal deficit to widen as the country’s leadership continued to show appetite for expenses.
PHOENIX NEWS

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COMMENTS

WORDPRESS: 8
  • comment-avatar
    Kopala 4 days ago

    If indeed the man is paying that much in rentals for the girl and there’s proof, it’s an issue because at the current rate of Kwacha to a Dollar, that translates into 90,000 plus per month. How much is his salary? What other business does he own? He must be investigated for money laundering, morality and the rest can be his business but when I pay so much tax and see such rubbish going on, it becomes my business!

  • comment-avatar
    Chisha Banda 1 week ago

    It is not a question of poor leadership but that of no leadership.

  • comment-avatar

    poor leadership

  • comment-avatar
    Movement for Multiparty Democracy MMD 1 week ago

    What a sample of poor analysis! Ati financial analyst hamaundu! Why dont you get correct analysis from someone who knows what they are talking about.

  • comment-avatar

    This is a serious matter. It involves livelihoods. Show some seriousness as u debate it. We’re not in normal times.

  • comment-avatar
    dodalawaka 1 week ago

    My Borher
    Are you halucinating?
    This kwacha has been junk isnce Lupiya Banda regime
    Sata just removed Zeros from the currency in the name of rebasing- that did not add any value to the Kwachca
    wait the kwacha start trading at K1000.000 against Dollar
    Junky economy
    malabishi

  • comment-avatar
    BO MUNYENGE MUNYENGE 1 week ago

    LETS SACRIFICE NOW SO THAT WE ENJOY TOMMOROW.THE KWACHA WILL BE FINE IN DUE TIME, THESE THINGS ARE GLOBAL.DR BWALYA IS DOING A GREAT JOB AND ITS ONLY PEOPLE WHO ARE FRUSTRATED AND BITTER LIKE HAMAUNDU WANT TO POTLAY A BAD PICTURE REGARDING THE MINISTER’S PERFORMANCE

    • comment-avatar
      Tiye 1 week ago

      Why defend the rot. For how long are we to sacrifice. Ufuna tide tonse? What a way to solve such a malaise?