By BUUMBA CHIMBULUTHE high demand for cash has been amplified by the announcements that various government intelligence wings are monitoring movements of cash as the situation brings anxiety in an economy dominated by a huge informal sector and a black market, the Economic Association of Zambia has said.EAZ president Lubinda Haabazoka said Zambia had a huge presence of cross border traders with markets at Kasumbalesa which are very developed and result in cautious behaviour from such traders when the narrative was that of tightening economic intelligence.Dr Haabazoka said this was normal behaviour because businesses and households prefer to concentrate their savings in offshore banking zones as opposed to countries with conventional banking centres.“It is expected that as the country settles under the new administration money will once more move from mattresses into the banking centre,” he said in an interview.And Dr Haabazoka said the shortage of cash in the banking system apart from traders buying […]
CASH CRISIS POSER
