Tayali asks govt to re-introduce SI 33,55

Chilufya Tayali addressing journalist

The Zambian Voice has called on the government to re-introduce the Statutory Instruments Numbers 33 and 55 following the current economic challenges the country is going through.

Zambian Voice Executive Director Chilufya Tayali has told a Media Briefing in Lusaka that Zambia is so exposed to global monetary shocks and manipulations; therefore the country needs to put some control to maintain monetary sovereignty.

Mr. Tayali says the Zambian Kwacha is under pressure because everyone wants to trade in foreign currency, so people are busy looking for dollars making the forex on high demand.

He notes that the SI number 33 of 2012 was meant to promote the Kwacha as the sole currency for domestic operations so it must be returned.

He says Zambia’s little exports are not making an impact on the economy because the foreign investors are not bringing back the forex earned on the international market.

Mr. Tayali says the main objective of the SI 55 was to monitor Balance of Payments in a transparent and accountable manner so that the country can make sure it is getting that Dollar in the reserves.

And the Zambian Voice Executive Director has called on the government to consider suspending some infrastructure projects saying Zambians should face the reality that there is no money.

He says it must also be realized that, these projects are putting pressure on the Kwacha because most of the material is imported.