Opposition Green Party (GP ) President Peter Sinkamba says his party is happy with new Bank of Zambia Governor Danny Kalyalya’s commitment to stabilising the Kwacha.
Speaking in a statement obtained by ZANIS today, Mr. Sinkamba said although the national currency is now trading at around K 7.00 per US dollar , his party was hopeful that Dr Kalyalya may provide a temporal relief.
Mr. Sinkamba said in the statement that the GP expects Dr. Kalyalya to announce what he termed as ‘Quantitative Easing’ measures, at tomorrow’s meeting at his office.
Quantitative Easing is an unconventional monetary policy in which government securities or other securities from the market are purchased in order to lower interest rates and increase the money supply.
“ This is commendable, if he proceeds as such, but this is a temporal and unsustainable measure, “ said the GP leader.
He revealed that his party has come up with another think out of the box strategy through what he called Green Gold project in which said the GP would help save millions on taxes while bringing millions more to the state economy.