Zambia is headed for economic disaster, Hamaundu has charged

Financial Analyst Mambo Hamaundu has charged that Zambia is headed for an economic disaster.

Mambo Hamaundu

Mr. Hamaundu says what is happening in the country now is an indication that the Patriotic Front government has failed to manage the economy citing the continued weakening of the Kwacha and the increase in the price of fuel as examples.

Mr. Hamaundu says the continued depreciation of the kwacha is of great concern and extremely worrisome and shows that the economy is not being managed properly.

He states that solutions to stabilize the Kwacha would have been found by now if the economy is well managed.

He adds that as long as the Kwacha continues to weaken, the cost of living will continue to go up and the majority poor people are the ones who will bear the brunt.

Mr. Hamaundu says if the PF Government has failed to stabilize the kwacha or manage the economy; it should consult the various stakeholders who may have ideas of how to address this challenge.
He further states that if the government does not find a lasting solution to the volatility of the kwacha, the country should brace itself for more challenging times ahead.