10 March 2014

Zambia: Milupi Blames Impulsive Policies On Kwacha Fall

Alliance for Democracy and Development president Charles Milupi says the falling of the kwacha against foreign currencies is as a result of impulsive policies by the Patriotic Front government.

Milupi said President Michael Sata was the only President since independence without an economic advisor.

He said it was difficult to predict the market environment in Zambia under the PF as policies were being introduced at the drop of a hat.

"Ever since independence all the presidents in Zambia have had an economic and political advisor but under President Sata I have never heard any. This is part of the reason they resort to impulsive policies that are leading to the Kwacha tumbling," Milupi said.

"President Sata should be back to running the country the way it should be."

The kwacha has been in freefall against other currencies with a dollar fetching over K6.

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