Q FM Africa's Modern Radio
Public Policy Analyst Mbita Chitala
Public Policy Analyst Mbita Chitala has reiterated that the volatility of Zambia’s money market will never be resolved unless the country deals with it’s over dependant on Copper and Cobalt exports.
Dr. Chitala says the country will continue being vulnerable to global market pressures if its export base is not expanded away from mineral exports.
He has told Qfm News in an interview that the country will also need to additionally deal with the issue of increasing inflow of investments.
Dr. Chitala who is also a Public Finance lecturer at the Open University in Lusaka has suggested that for the fact that the volatility of the exchange rate market is already impacting on the country’s productivity and competitiveness, the Bank of Zambia Governor and his team should not even be sleeping.
He says this is because the whole fabric of the lives of Zambians is being affected in so many ways as a result of this instability.
Dr Chitala is encouraging the Central Bank to consult as widely as possible as it ponders on what measures to put in place to ease the instability of foreign exchange market in the short term.
He adds that given what is trending on the global market and how the country’s Agriculture may perform, he predicts a bleak future for the country this year.