Dear Editor, IN an article published on Thursday, January 27, 2022; “Zambia’s leader says turning around economy, despite empty coffers” published by AFP and Rodger Bosch, quoted that President Hakainde Hichilema said his new government was on the fast track to restoring Zambia’s credibility and credit-worthiness after inheriting an economy strapped for cash and crippled by debt.He said among other things that; “Inflation is at 15.1 percent, according to official figures and is now the lowest in nearly two years, and the local Kwacha currency has appreciated for the first time in 17 years.”It is the statement about the Kwacha that caught my attention. It is the second time in a week that the President is affirming that the Kwacha has appreciated for the first time since 17 years ago.This would mean that the Kwacha has not appreciated since 2005.EXCHANGE RATE FLUCTUATION AND EXCHANGE POLICY IN ZAMBIAZambia adopted a managed float exchange rate system in 1994, […]
Is it true? Kwacha appreciates for first time in 17 years says HH
