Economist Predicts Further Drop For the Kwacha A financial analyst says the Ministry of Finance and the Bank of Zambia should issue clear policy directions on the depreciation of the kwacha. Maambo Hamaundu said the kwacha will continue to be in free fall if the speculation going on in the market is not halted by giving out correct information. He said that the silence by the two key institutions was causing serious panic in the market and leading to volatility of the kwacha. The kwacha has continued to be in free fall having reached a record K7.01 mark to one dollar and is showing no signs of slowing down. Partly the uncertainty in the market and speculation over the state of health of the president, have been credited with the instability. “The Minister of Finance and Bank of Zambia should issue a policy statement on the kwacha and state of the economy. There should a timely issuance of correct information in the market to avoid the volatility caused by speculation in the market,” he said. zambiareports/2014/05/29/economist-predicts-drop-kwacha/
Posted on: Thu, 29 May 2014 07:05:15 +0000
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