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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.
