Zambia News

Musokotwane: World Leaders Support Kwacha’s Recovery

The stand of the governments of China and the United States to support Zambia’s debt restructuring scheme has been praised by the government.

SITUMBEKO MUSOKOTWANE, Minister of Finance and National Planning, told the media during a press conference at his office in Lusaka that there has been increased action to complete the Program.

He claimed that the backing of world leaders in aiding Zambia in resolving its economic issues is the cause of the Kwacha’s steady recovery.

According to Dr. MUSOKOTWANE, the government is optimistic that the Kwacha would continue to perform well as long as negotiations go on.

The Kwacha will perform much better, according to him, once the debt alleviation policy is put into practice.

According to Dr. MUSOKOTWANE, the business community is currently reluctant to contribute foreign currency because of the delays in finishing the debt restructuring scheme.

In the past four days, the Kwacha has increased from around 22 Kwacha to 20 Kwacha to one US dollar.

Back to top button