Zambia’s failure to earn from its export ‘irresponsible’ – Dodia

Zambia’s failure to have revenue earnings from its annual US$8 billion worth of exports remitted back into the economy has been described as irresponsible.

Renowned Lusaka based economic analyst Yusuf Dodia says such irresponsibility is what has led to the country being starved of foreign exchange.

Renowned Lusaka based economic analyst Yusuf Dodia

Mr. Dodia says much as he agrees with the Bank of Zambia (BoZ) that the country’s economy is stable and growing, the weakening of the Kwacha entails that there is need to work on the volatile exchange rate market.

He has told Qfm News that he still thinks the solution lies in the re-introduction of the Statutory Instrument (SI) 55 and its actual enforcement.

Mr. Dodia who is also Private Sector Development Association (PSDA) Chairperson says this is the only way the country will start having its export earnings remitted into the economy.

He says this in turn will result in a stronger kwacha and a predictable stability in the exchange rate.