Tuesday 1 February 2011

ZAMBIAN GOVERNMENT URGED TO COME UP WITH FINANCIAL MEASURES TO BRING STABILITY TO THE KWACHA

A FINANCIAL ANALYST HAS CALLED ON THE GOVERNMENT TO PUT UP MEASURES WHICH WILL WHICH WILL ENSURE STABILITY OF THE KWACHA AS THE COPPER PRICES SHOT UP AND AVOID THE CURRENCY’S VOLATILITY.
SPEAKING IN AN INTERVIEW WITH RADIO PHOENIX FINANCIAL ANALYST MAMBO HAMAUNDU SAYS THE VOLATILITY OF THE KWACHA WILL BRING UNCERTAINTY IN THE MINDS OF THE BUSINESS MEN AND WOMEN WHICH IS LIKELY TO HAVE AN EFFECT ON THE ECONOMY.
MR HAMAUNDU HAS NOTED THAT LATELY THE KWACHA HAS NOT BEEN STABLE DESPITE THE COPPER PRICES BEING HIGH WHICH HAS LEFT MANY BUSINESS MEN AND WOMEN IN THE FINANCIAL SECTOR WONDERING WHAT HAS GONE WRONG AND THE NEXT STEPS TO TAKE IN ENSURING THAT THEIR BUSINESS ARE SAFE FROM THE VOLATILITY OF THE KWACHA.
HE HAS OBSERVED THE ECONOMY OF THE COUNTRY PARTLY DEPENDS ON THE STABILITY OF THE CURRENCY IN THE SENSE THAT BUSINESS MEN AND WOMEN ARE SKEPTICAL TO INVEST IN AN ECONOMY WITH A VOLATILE CURRENCY.
MR HAMAUNDU HAS STATED THAT GOVERNMENT MUST QUICKLY FIND SOLUTIONS TO THE VOLATILE CURRENCY AND BRING STABILITY TO THE FINANCIAL SECTOR ESPECIALLY NOW THAT THE COPPER PRICES ARE HIGHER THEN BEFORE.

PUBLISHED BY AUGUSTINE M SICHULA

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