DODIA
By CATHERINE NYIRENDA-
The Private Sector Development Association (PSDA) has urged Government to put in place measures that will allow the kwacha to become stable on a longer term basis.
The Kwacha has continued to weaken despite Government’s move to inject US$ 178 million foreign reserves in the economy and the subsequent revocation of statutory Instruments (SIs) 33 and 55.
However despite the measures, the Kwacha has continued weakening against the dollar a situation that has resulted in prices of goods and services in the country to rise.
PSDA president Yosuf Dodia said the persistant volatility of the Kwacha was making the management of businesses in the country difficult run.
“Government has to quickly put in place measures that will help stablise the kwacha as it is making management of business in the country very difficult,” Mr Dodia said.
He said the continuous weakening of the kwacha will reflect on the cost of imports and this would affect on the prices of goods and services.
Mr Dodia said one of the solutions to strengthen the kwacha was to ensure there was enough foreign exchange in the country which can be achieved through improved imports.
He urged Government to ensure that foreign exchange earned from the sale of copper should be injected into the economy to ensure that Kwacha gains value.
