By NATION REPORTER
THE Private Sector Development Association (PSDA) has predicted that the Kwacha is likely appreciate to about K15 between June and December 2024 despite the increase in the Monetary Policy Rate by the Bank of Zambia to 12.5 percent.
PSDA Chairperson Yusuf Dodia in an interview said that the appreciation of the Kwacha would be necessitated by the recent implemented exports tracking framework which had a 90-day period of exporting earnings coming into the country.
Mr. Dodia said as a result of export earnings he hoped that the country would have about US$30 million being deposited into banks by end of March which would automatically stabilise the Kwacha and create a favorable environment for Small and Medium Enterprises Development (SMEs).
Meanwhile, Zambia Consumers Association Executive Secretary Juba Sakala said increasing the Monetary Policy Rate would stifle growth and development of the SMEs. CLICK HERE TO READ MORE
Author
