Zambian president may step in to stem kwacha free fall – spokesperson

LUSAKA – Zambia’s president will not allow the copper-exporting country’s currency to collapse and may intervene to regulate markets, a government spokesperson said on Monday, as the kwacha fell to new record lows against the dollar.

“The president cannot allow the national currency to collapse because of a false belief in a free market economy even when things are clear that the market won’t fix itself. So the president could intervene, through the Treasury of course,” presidential spokesperson Amos Chanda told Reuters.


Check Also

ZIMEC offer SA’s BT Industrial platform to showcase

BT Industrial, a pioneering science and engineering company specialising in the design and manufacturing of …