Dear Editor,THE current movements in the exchange rate are clear indicators signalling that our economy needs an expanded export base especially targeting non-traditional exports such as honey, sugar, cements, etc.As a nation, we also need to start recording reduction in unnecessary imports by building capacity to the local potential producers.In the recent weeks, we have continued to seeing depreciation accelerating in the Kwacha at the back of poor supply of US Dollar on the market.Local forex market was earlier this week supported by the Bank of Zambia, as it offloaded about US$20 million to offset demanding pressure points which has sealed up some supply deficits, and of late, we have seen that the central bank has remained as the only main supplier of forex on the local market.KELVIN CHISANGA.
Zambia’s export potential to hedge economic growth!
