Q FM Africa's Modern Radio
Special Assistant to the President for Press and Public Relations Amos Chanda says critics saying President Edgar Lungu failed address the issue of the Kwacha’s depreciation in his speech to the National Assembly should revisit the speech.
Mr Chanda tells QFM News that the fact that the President did not mention the word Kwacha does not mean that he did not touch on the issue.
Mr. Chanda says President Lungu did touch on the Kwacha in broad terms when he alluded to the issue of lack of diversification which is the fundamental problem that is troubling the country’s currency.
He has explained that this is why President Lungu decided to broadly and comprehensively deal with the issues pertaining to diversification which are expected to bring about an export economy.
Mr. Chanda notes that the idea is to cut down on over dependency on copper exports.
He says critics of President Lungu’s speech should in this case reread their economics and see that when Zambia’s economy is expanded in the manner the President proposed the fundamentals that trouble the Kwacha will be addressed.
Mr. Chanda thinks that it will be irresponsible for government to make direct interventions to salvage Kwacha when the President in his speech did deal with fundamentals that affect the currency.