Shock as President Lungu reveals what’s making the Zambian Kwacha lose value


PRESIDENT Edgar Lungu says peddling of lies on the economy by disgruntled people is weakening the Kwacha and called for patriotism.

Mr. Lungu said it was unfortunate that local people were the ones spreading rumours that Zambia was in a debt crisis when that was not the case.

Mr Lungu told journalists in Lusaka yesterday, at City Airport on arrival from Copperbelt Province where he had gone for a two-day working visit, to desist from such unpatriotic behaviour.

“You are busy spreading rumours that Zambia is in a debt crisis but the World Bank has said otherwise but you see this is the reason the economy is pulling back because people locally are busy spreading rumours. So talk about patriotism,” he said.

President Lungu said false sentiments and rumours could damage Zambia’s economy as well as negatively influence markets.

The World Bank recently clarified Zambia that was not in a debt crisis as widely speculated by some sections of society.

Meanwhile Home Affairs Minister Mr Stephen Kampyongo has urged PF members to remain united even as the party goes for internal elections.

Mr Kampyongo who is PF national youth chairman said the party leadership was concerned with the politics of mudslinging and character assassination.

Mr. Kampyongo warned that some candidates who would not heed PF secretary-general’s call for a civil and respectful campaign would be disqualified even before elections were held.

– Daily Nation

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