A professor who teaches economics at the University of Zambia has charged that rebasing the Kwacha with the hope of strengthening the local currency is misdirected.
Professor Vanken-tesh Seshamani, a lecturer in the school of Economics says rebasing the currency will not change anything in the country’s economy.
Professor Seshamani has told Qfm news in an interview that the move is likely to have an immediate impact on the country’s inflation rate.
He however mentioned that now that the rebasing process is in progress, it will be difficult for government to reverse it.
A section of stakeholders has called on government to halt the rebasing process stating that the process is costly and have further advised the government to channel resources to needy sectors of the economy.