UA-55300619-1
slide 1
slide 1
Image Slide 2
Image Slide 2

Govt’s silence on Kwacha depreciation worrying – Tembo

Filed under: Latest News |
388 Views

Patriots for Economic Progress (PeP) President, Sean Tembo, has raised concern at Government’s apparent silence in communicating what they are doing to address the continued depreciation of the Kwacha.

As at 9:30 hours on 11th December, 2023, the Bank of Zambia-BOZ, quoted the exchange rate of a US Dollar to the Kwacha buying at K24.2800 and selling at K24.3281, with several commercial banks quoting a slightly higher figure.

PeP STATEMENT ON GOVERNMENT’S SILENCE REGARDING THE CONTINUED DEPRECIATION OF THE KWACHA – ISSUED ON 11TH DECEMBER 2023

Liberty House – Lusaka

1. As Patriots for Economic Progress (PeP), we are concerned that Government has not said anything regarding what they are doing to address the continued depreciation of the Kwacha, which is now trading at K24.7 to the US Dollar.

2. The last time we heard anything on this matter from Government was more than a month ago when the BOZ Governor said the Central Bank had run out of forex to support the Kwacha.

3. It is worth noting that the continued depreciation of the Kwacha has created a lot of uncertainties and hardships in the business environment and significantly increased prices of goods and services for consumers. Therefore, both business houses and consumers alike are looking up to their Government for assurances that something is being done to address the situation. Unfortunately, Government is very quiet on the matter.

4. As Patriots for Economic Progress, we appeal to President Hakainde Hichilema and his Government to show leadership and address the nation on what he is doing to resolve the continued depreciation of the Kwacha.

SEAN E. TEMBO (SET)
PARTY PRESIDENT
PATRIOTS FOR ECONOMIC PROGRESS (PeP)
LUSAKA, ZAMBIA

Facebooktwitterredditpinterestlinkedinmail

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.