Most of Zambia’s economic woes self inflicted – EAZ

Most of Zambia’s economic woes self inflicted – EAZ

By Logic Lukwanda

The Economics Association of Zambia –EAZ- says some of the economic challenges that Zambia is engulfed in today are self-inflicted.

Speaking during the opening of the EAZ Economic Forum Dubbed “Zambia’s economic situation analysis, the way forward”, Association National Secretary Mutisunge Zulu cited the importation of fertilizer, litigations in the mining sector and the placing of some mines on care and maintenance among others as avoidable and would not have led Zambia to where the country is today.

Mr. Zulu said the imports of fertilizer and the placing of mines on care and maintenance of some mining and litigation have contributed greatly to the depreciation of the kwacha and other financial and economic challenges which is partly the reason for the dwindling economy.

And Mr. Zulu has predicted challenges in the financial sector which will exert more pressure across the economy adding that some of the factors highlighted are what has caused Zambia to default on its Eurobond coupon payments of US$45.3 million last week.
PHOENIX NEWS

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