It is shameful to blame HH or social media for kwacha depreciation

Filed under: Politics,Special Comments |

It is typical of failures to blame others and PF is showing this at all angles from the economy to students in mourning. We have heard nonsensical sentiments from Lubinda Haabazoka, Sunday Chanda and the Minister of Finance claiming that people’s public comments and social media posts are affecting the Kwacha. What in the world in this reasoning?

The currency fluctuations are affected by supply and demand and as far as we are concerned the Forex is not traded on Zambian Watchdog or any other social media. The people dealing in foreign currency are BOZ, Banks, Corporations, Bureaus, Donors, trader and exporters. Do all these people consult social media or HH to make business decisions? Don’t be crazy ba PF ok?

Then again you accuse some individuals of saying bad things about the economy. Sunday Chanda on hot FM, said they are certain individuals who are painting the country black. Is Sunday Chanda suggesting that the opposition should abandon their role of checks and balances? Does he want our MPs in parliament to be showering praises on Mwanakatwe even when she is wrong? Is patriotism about pretending that things are okay? No.

The buck stops with the Government of the day, stop throwing blame all over the place. When has Lungu even been on BBC or Al Jazeera to sell Zambia and how often does he even engage the public to articulate the economic direction of the company? Lungu is the face of our economy and his confidence in Zambia should be able to woo investor confidence. Instead the other month, the man was begging a Turkish dictator for help to pay back the Eurobond in the open, wasn’t that painting Zambia black. Zambia has over 60 embassies across the world, what are the trade attaché’s doing in those countries that can’t help sell Zambia? We have ZDA and many other support institutions. Why can’t the PF cabinet convince investors rather than complain about the views other people, which they are entitled to. Last time you held prayer over the kwacha and embarrassed us to the whole world. You are further just embarrassing yourselves by alluding to Facebook comments as the cause of kwacha depreciation, in fact that would indicate to investors that the government in incompetent.

All Investors have financial advisors or local banks who competently provide advise on the investment climate of Zambia before they make decision. What is keeping the kwacha weak is the fact that we have huge debts, huge debt service, copper prices may not rise as we wish, a drought may be looming and the fiscal discipline is poor the IMF had to withdraw their representative because the government was not serious. These are factors that are hurting our the kwacha but you pompwes don’t want to take responsibility. PF stop dodging responsibility with blame games otherwise you will one day blame the opposition for your own constipation.

Richard W


2 Responses to It is shameful to blame HH or social media for kwacha depreciation

  1. Economies do also depend on what people are speculating or what people are shouting about , the negative reports do affect currencies all over the world just see what is happening with saud Arabia the currency has gone down just because of the lost journalist.
    Speculations affects economies either you like or not when Trump started talking about Iran negatively their currency slumped so it happens every where in this world you cannot seperate these forces.

    October 14, 2018 at 7:58 pm

  2. It is good for you zambians that what you publicized is now bearing fruit , it is you yourselves who have caused the fuel increases because you wanted it and you invited it that is the fruit of your lips.
    We where watching you when you shouted at the top of your voices and the world heard you social media has also helped kill the kwacha apart from politicians .

    October 14, 2018 at 8:22 pm

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Start: 2019-07-01 End: 2019-07-31