The sudden appreciation of the kwacha has raised questions among political leaders, with the leader of the opposition New Heritage Party, Chishala Kateka, calling on the government to provide an explanation to the public. The currency’s recent fluctuations have caused concern and uncertainty among citizens, who are eager to understand the reasons behind the sudden changes.
After months of a steady decline, the currency has experienced a rapid and unexplained increase in value. Many are left to speculate about the reasons behind this unexpected shift, and the lack of transparency from those in charge has only added to the confusion and uncertainty. Ms. Kateka, among others, has called for more clarity and information to be provided to the public regarding this significant development.
The leader of the New Heritage Party has cautioned that one-time interventions may not be enough to maintain a consistently low exchange rate. Instead, the nation should focus on economic activities that can generate sufficient foreign exchange to sustain the low exchange rate over time.
To address these concerns, it is important to share information about the factors that influence foreign exchange rate movements. With this knowledge, businesses can make informed decisions and adapt to changes in the market.
Ms. Kateka says her party will only join in celebrations of the lowered exchange rate when it understands the reasons behind this development.
