Don’t Blame Government On Kwacha Fall – Former BOZ Governor Christopher Mvunga

1. Mr Mvunga what are you trying to prove? It’s government’s duty to ensure Kwacha stability. After all the president confidently told us that he will stabilize the Kwacha hours after being sworn in.

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   • my dear brother never be misled that govt has that power to make the currency stronger. its external forces at play. even prices of goods dont think the govt has control on that. politicians they just lie when they tell us they will manage these things. even you deja vu if you became president today you wont manage to control the exchange rate or prices of goods.

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   • You are the ignorant type the former BOZ Governor is talking about. You mean you don’t have the capacity to understand what he said?

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   • What you are saying is partly true. It is the Central Bank’s responsibility, an extension of the MoF. However, it is every Zambian’s role to ensure that we contribute to exports rather than net importation of goods and services. Only a balance of trade tilted toward net export achieves this.

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   • @Mbimbi…mwanta the problem is that when PF was in power you blamed them for everything starting with load shedding, kwacha depreciation, high cost of essentials, high fuel prices. You even went as far as denying the existence of COVID-19… that PF were using it as an excuse to misuse funds.
     By the way has what you call external forces just come into being now?

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   • #Benson Moono sorry to say this… you people are so admirable in that you will protect your man whether he’s wrong or right…. not everyone who complains is a PF member… that’s being mischievous.
     You people rubbished every excuse the previous government gave for down trend in our economy. Now without shame you want to use the same excuses.
     By the way I am not a dunderhead and neither am I a supporter of Lungu… that is village mentality.

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   • Mvunga is missing a key point, the South African Rand was trading at R19 to the USD at the time when the Kwacha was as strong as K17.5 to the USD, today the Rand is at R18.30 and the Kwacha at K25.5!!! These outside influences this Mvunga is talking about do they not affect South Africa as well? How has SA maintained it’s currency and Zambia allowed it’s currency to just fall, an economy cannot operate like this and sadly the current govt have all but lost confidence in long term investors because no one would invest in a country that has such an unstable national currency. We have failed.

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   • Government when it was out of power told us that it had the power to strengthen the currency. HH said his government would improve the Kwacha. Why play hide and seek now and try to run away from a power previously claimed as yours? Because it is convenient? Poli tricks. Had the currency strenthened there would have been Noone saying dont attribute this to government but to the citizens!
     Right now the Kwacha is low because of high government debt, depleted government revenues since the mines dont pay enough tax, and of course the strengthening of the US dollar. Most of these factors government can do something about.

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   • stability yes but appreciation and depreciation to a large extent are external forces

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2. @ Njala yamunyokola he knows the drill….become a praise singer and get hired…

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   • The lungu faction pf has too many dunderheads. No wonder Sampa outsmarted them..

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   • But why are you PF cadres downvoting Moono? Dumb Sampa outsmarted you!

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3. Leaders are elected to address challenges and not to find excuses. There’s nothing that can’t be explained in this world. Even a man caught commiting adultery will try to justify his deeds. Caleb Fundanga under RB managed to steer Zambia through the global economy crunch with such ease it seemed nothing happened. That’s what leaders do. Unfortunately we can’t the same about the under 5 calculator boy and his team. Don’t mislead us son of Mvunga. Signs of failure are evident everywhere. Just mention one sector which is doing well? Zero

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   • It is easy to “steer” an economy through a crisis when the fundamentals of the global economy does not strongly positively correlate with Zambia. Zambia is impacted more by alternative investment classes that actually do better when core investment asset groups like bonds or stocks do badly. Also, Fundanga found himself at the helm when copper prices and copper production were at peak. I know prices are high right now, but production is low due to ‘now-resolved’ issues at KCM and Mopani. That said, I agree with you that Leaders need to find solutions, not excuses. But let us mind the fact that a Governor has little to no impact on the currency, it is the trading public. They have tightened fiscally, why is the rate not dropping? TRADE.

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   • Silly excuses. Upnd is a failed project from the time Mazoka died…. how can a party run by normal beings frustrate the government from developing Southern Province. Upnd had no agenda other than a Tonga must Rule.

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   • Just mention one sector which is doing well? The President’s flying squad. His drivers too.

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4. ARREST BRIAN MUSHIMBA OVER THE FAKE TRAFFIC CAMERAS WITH THE LEBANESE. He’s worth over $1.5 million boasting of buying a $500,000 house in the USA. Extradite him.

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5. With due respect to the former governor, it’s better to remain silent than justifying what you clearly know was a campaign promise. HH promised to stabilise the Kwacha within 4 hours being inaugurated into office. Mr Mvunga, didn’t you hear the President while in opposition talk about the Y – C formula which would restore Zambia’s economic problems?

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6. Kwacha has gone berserk. Apa manje ni nkhani ya kaya

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7. We thank the heavens because PF lost the 2021 elections. We say so because with the world political and economical turmoil which has been going on since UPND came into power, the kwacha would have been at ZMK 60 per one USD today. The PF government was a bunch of both reckless and clueless governors. The creditors of the USD 15 billion external debt and USD 13 billion local debt would have already moved to auction the entire Zambia, its assets and liabilities. We thank heavens for the UPND calculator boys.

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8. The government has never talked to Zambians why the kwacha is trading at K26, the worst currency fall next to Argentina’s. Neither have they openly discussed debt rescheduling failed talks. There are several things they have done wrong, but find it easier to blame all but UPND. Our economy run by an overrated economist is in shambles. Mvunga is not fair to himself and the UPND by failing to offer solutions, choosing to scapegoat Zambians instead.
   The SRR was raised twice last month by BOZ, at the same time the MPR was upped to 11%. Nothing helped to change the kwacha trend. During Mvunga’s time BOZ was buying gold from Senseli which partly helped cushion the FX.

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   • During Mvunga’s governorship, BOZ was sole buyer of gold from Kasenseli mine of Mwinilunga. They got about 1.4 tonnes of gold, tradable in any currency. Russia has braved wartime currency withering by going the golden way too. Mvunga must offer workable solutions not just impractical blah blahblah blah. Sir, silence is golden especially if by saying anything it will expose your hiden limitations.

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   • Well said we need complete transparency on this, so mething is not right and we all smell a fish. The currency has never in its history performed as badly as it is currently doing. This is a national issue but it hasn’t been addressed with the seriousness it deserves.

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9. Afunta uyo . Hh is paying people to sing praises

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   • And some are still worshipping c0*kroaches
     Is there a difference

10. By the way Mr Mvunga do you want us to blame you instead of government? You are welcome

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    • DejaFOOOOL is one of those dullards who go to church. When the Papa prophesizes that if he drinks engine oil with faith and tithe, he will pray for him to go to heaven. Thereafter, he returns to the Papa and demands to be taken to heaven as prophesized. Can an educated man surely come to HH and demand to buy mealie meal at K50!?.Most people who voted for UPND work hard, They were aware of the prices of inputs and concluded that K50 mealie meal was unstainable ,so they voted overwhelmingly for UPND on other promises which are enshrined in their manifesto and are now painstakingly being achieved
      DejaFOOOOL,next time read a party manifesto and vote on it ,not things that are said off-the cuff at a political rally…And go for further studies to improve your grades

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    • @ MuZambian

      @ Deja Vu is always raising your temperature high and making you go the toilet all the time. You are DUNDERHEAD here. You have nothing to offer on lusakatimes but looking for fights. Your character shows a lot proof that you are loser. UPND has made some progress, but we must not shy away from addressing where they are failing, even when we have been with UPND from its start when Mazoka [MHSRP] formed the party.

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    • @ MuZambian

      OMG. You are such an id1000t. What are you vomiting?

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11. Don’t always blame someone else (COVID, Russia- Ukraine etc.) It’s the Zambian people who are to lazy and corrupt,at least the majority.Just sitting and waiting for donations.

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12. At least #muzambian is admitting that our president lied all the way to get votes. Besides, what’s education for if it can’t improve my life? Some of you educated guys don’t inspire as who are illiterate. So just hit the topic under discussion here than go below the belt for the persona. Our president is a self proclaimed economic genius, what has he done with his cognitive intelligence apart from blaming everyone for his failures? Even what is in his own manifesto can NOT be followed if he chooses. So just beat it!

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    • @My Zambia what has the economic genius, done with his cognitive intelligence ? He has flown abroad ku US Europe Asia etc 38 times in less than two years! Its a record. Which other president in an African country has done this? The President of Africa’s richest country, Ramaphosa has flown out 40 times-in five years. Clearly, The Nobel Vasco da Gallivanter’s prize goes to HH!!!!

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    • When in opposition UPND didn’t spend a day without telling us how they would sell the presidential jet. Now they are as quiet about this as Leopard Hill cemetery in the night.

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13. @MuZambian Sounds demented and frustrated at the same time
    Mr Muzambian sir if you’re over 65 years old please retire and go back to your village and start growing Cassava and ground nuts

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    • Cassava is not good for mental health. It reduces brain growth

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14. #MuZambian… you mean all people complaining about hardships are not hard working? Just go back to Namwala and visit your ancestors grave and pray to their spirits. . looks like this the only option left.

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15. When a certain MP rose on a point of order to talk about the free falling Kwacha, useless Speaker shot the motion down and said it was not of urgency. This shows that there no seriously in resolving economical issues that are affecting the nation.This needed a ministerial statement in parliament. And an economical Indaba was supposed to be constituted so as to brainstorm on issues to do with the economy. Government need to accept that the economy is on the death bed. It needs to be resuscitated.

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    • The Chitambo MP, was asked to put his request in writing. When it was done the speaker feared a security breach or a catastrophe raining down on Zambia if parliament ever went on to debate the current economic status and seeking answers why BOZ keeps doing the same thing over and over without workable results of reducing money supply which effectively only strangles the economy further. This is UPND educated people in practice for you. Secretive. Superstition and incompetence eat then up everyday.

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16. 6 December 2023 So-called prince Kaping’a wrote a lengthy article castigating those who opposed the removal of road blocks especially Fred Mmembe. I bring in this issue to show how unreasonable Upnd members from top to bottom are. Today the road blocks are back and we expect normal people to question their leadership on this 360 degree turnround. But of course they will defend the same things they opposed.

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17. Even when you need a job this is not the way to go about it. Maybe because when you were at BOZ and you failed, you feel everyone else will fail so they should not be blamed as that is the norm.

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18. There are a lot of PF people here on LUSAKA TIMES. These are part of the 1.8 million PF people who voted for ECL. So UPND government – do not be misled. You still have 2.6 million people out of the 2.8million who voted for HH. And I do not see this number going down because things will improve before 2026. PF’s 1.8m plus UPND’s 200k will be split between the 2 factions of PF, Hamududu’s party, Citizens First, Kabimba’s party, EFF, and Socialist Party, in that serial order.

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19. ECL’s PF is the only half party which has 99% party presidential candidates who are Bembas. So I do not know what Easterners are still doing in this party. At least Kaizer Zulu by being in self created exile is no longer poltically active

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    • You are a lost cockroach. Don’t ever mention my name or you get a bullet in your head

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    • Say my name again up0n0ke

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20. Even the f00Iish upnd cadres are calling me asking for money. This is Christmas under hh. People are struggling, including mvunga. That is how bad the economy has gotten under hh

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21. Does Mr Mvunga think he can boost HH’s popularity by issuing that statement? I feel sorry for Bally especially looking at his fast waning popularity. Not even the ransacking of PF will save him in 2026 because its a far fetched dream to float Sampa as a reputable competitor to UPND and call the elections credible.

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22. You failed to perform Mr Mvunga so who do you want zambians to blame? kkkk yama now you are completely finished you have run out of ideas.Give us solutions not a game blame.

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