Bank of Zambia Governor, Denny Kalyalya has acknowledged that there is currently a short supply of dollars in the country.
In an interview Dr. Kalyalya has attributed the short supply to the transition period and settling in of the new dawn government, stating that some business players that contribute to the supply of dollars in the market had halted their operations in the country during the said period.
He however stated that the central bank is constantly surveying the market and doing what it can to address the situation.
The central bank governor further stated that things seem to be looking up as several players are getting back and beginning to undertake several activities with investors expressing interest to invest in the country.
Meanwhile, Dr. Kalyalya has cautioned that the effects of the Russia and Ukraine war will have a long-lasting impact on most economies including Zambia.
He is hopeful that the war will soon end but was quick to mention that Zambia will have to do what it can to survive the period.
What happens when you hire some one who was fired just to prove a point. Tried and tested yet you also go and hire him. See now. More failures abound
Sure kalyalya is not a good governor need to be replaced . Please hh bring back fundanga and magande those guys they know how to work, kalyalya too much graphics.
This man is the most failed bank of Zambia in the history of the country.I can’t understand why HH appointed somebdoy who was fired and moved dolla from 6.5 to 22.5. It had to take Mvunga to bring dollar to 15.5.Now it’s going to 30 as long as this man is a bank of Zambia.he may have papers but he fails to aplly himself.He was just appointed bcoz of tribe.Yabbbba Zambia can’t develop with imbedded tribalism
Sure kalyalya is not a good governor need to be replaced . Please hh bring back fundanga and magande those guys they know how to work, kalyalya too much graphics. He will talk after 9 months just watch him
. our governor is good on speaking English and graphics which does help the country.
So? What are you explaining? Reasons behind the Kwacha’s fall? Failure by any other name stinks the same. Sla ba HH increase our exports.
YET THIS MAN IS PAID IN US DOLLARS! FROM TODAY HE SHOULD BE PAID IN KWACHA.
BETTER STILL HE SHOULD BE FIRED BY THE PRESIDENT WHO PROMISED TO STABILISE THE KWACHA TO 10 KWACHA TO THE USD.
THIS IS VERY COSTLY COMPETENCE!
Imwe ba Kalyalya we all know this.. Just sort it out.
If Dr Denny doesn’t bring the kwacha to 10 then nobody will. These are real bankers and not what Mvunga was doing – printing money to control the currency & economy. These are hardcore bankers who understand things deeply. When the kwacha falls it comes from the economy, and when it gains it also comes from the economy and not himself printing or not printing money.
Zambians are waiting for ballys promises.
Bally promised to drop the dollar rate but
Now even dollars are running out.Next we
Will see Zambian dollar.
My brother mvunga is having the last laugh and dance. Having a PhD in economics does not make you a central bank governor. It takes more skills and competencies, which is what mvunga had. Mvunga was exposed to the commercial real life working of business entities unlike this man who is just an economics theory walking textbook Hahaha
ECL’s government changed policy to have the mines deposit copper sales proceeds in Zambia not offshore. That’s why the Kwacha started appreciating just before the elections that changed government. The new dawn government came and changed this to pay back the mines for their support and now the chickens have come to roost. Reverse this mistake and the kwacha will drop to K10 to a USD
Dr Kalyalya was fired by Lungu for rightly criticizing the politicization of economic management.Shortages of $$ was there even before HH’s presidency that’s why GRZ made that Eurobond default.Let’s no rewrite economic history to suit our trashy politics.
Iwe chi troll Kaizar Zero you guys shattered Zambia’s economy thru your type of misguided politicization of economic management.Economic fundamentals should be free of political nonsense.
So we have a freely falling Kwacha and the blame is on Ukraine as if a sovereign Zambia can’t shape her own destiny? This governor has folded his arms and taking no responsibility on dwindling forex.
@Mulongoti; you say Zambia is a sovereign state – it is sovereign in what exactly? Eh my brother, clarify. Sovereign in South African Shopping malls? Or Chinese roads? Or sovereign in Debt? Eh my good brother , clarify.
If there was no shortage of US dollars, why did the PF government default on its loans? It’s a simple and straightforward question.