We hear, the prayer and fasting is to try and make things right with God for the stolen election. It is believed that the man was told to either repent and confess his dubious conduct or continue facing this crisis. It is also believed that this crisis has left the finance minister and the President @ logger heads as the Finance minister openly told the president that infact the kwacha is overvalued because we mainly export. It was further revealed that the president was looking for quick and short term solutions to please the voters. He was however openly told by the BOZ governor that its no longer sustainable unless we deep the entire Euro bond if we are to take that route. Hence his call for reconciliation is aimed at trying to draw sympathy from the public for the failed economy. Otherwise, in the short term, we are in trouble unless copper prices rebound which is unlikely as the Chinese are now working on how to sustain their economy @ that pace than improving the growth rate which is already quite high for a big economy. The other trap is, how is God going to forgive him if he doesn’t confess what truly happened? Meanwhile expect the Kwacha to tumble further by November, 2015.
Many of us have always condemned Chikwanda but it has been reviewed that since inception, during the times of Sata he has openly told cabinet not to take most of these loans. He at some point asked the president by then Sata to retire him but Sata refused. Secretary to the treasury was in support @ the beginning but later turned against Chikwanda and pushed for most of these loans which initially Sata had blocked. But the overzealous Lungu has now authorised almost all the loans Sata had blocked in spite of the advice from the technocrats. We are in trouble, if you have a lot of Kwacha, please Zambians, open a Dollar account because even the ‘FED’ will likely increase the interest rates soon and I guess wht that means in terms of the exchange rates on our kwacha whose economy depends on imports.
Praying for Lungu