Q FM Africa's Modern Radio
Former Commerce, Trade and Industry Minister, Felix Mutati has warned that Zambia risks depleting its international reserves that support the importation of goods.
Mr. Mutati has cautioned that Zambia may run into a dilemma of not being able to find foreign exchange cover for imports.
Briefing journalists in Lusaka this afternoon, Mr. Mutati has explained that once there is no foreign exchange cover for imports, the country’s economic fundamentals will be brought to a halt.
He states that while it was appropriate for government to intervene in the foreign exchange market, doing it on a continuous basis is risky, adding that the country will feel the effects later.
Meanwhile, the Lunte MMD Member of Parliament has charged that all MMD Members of Parliament are to blame for the current frail state of the former ruling party.
Mr. Mutati says MMD MPs must share the blame and get together in ensuring that the former ruling party gains ground ahead of the August 11 General Election.