Establish exact cause of Kwacha’s depreciation – JCTR

zambia kwacha
zambia kwacha
The Jesuit Centre for Theological Reflections (JCTR) has called on Government to establish what exactly is causing the Kwacha to continue depreciating.

JCTR Director Fr. Leonard Chiti has told Qfm in an interview that it is clear that government does not know what exactly is causing the kwacha to continue losing strength against major convertible currencies.

Fr. Chiti notes that the revocation of SI 33 and 55 has not in any way helped the kwacha to rebound as anticipated.

He adds that the free fall of the kwacha has continued to have a negative impact on the cost of doing business in the country, stressing that the impact is also trickling down on the poor majority Zambians.

Fr. Chiti states that as long as the kwacha continues to depreciate, the cost of living for the majority Zambian people will continue to go up, thereby increasing the levels of poverty in the country.

He says government should seek advice from relevant stakeholders on how best the Kwacha can be strengthened.

Qfm Radio