By NATION REPORTER
KASONDE Mwenda says President Hakainde Hichilema should call for early general elections because according to him, there has been serious economic decline warranting Zambia to go for the early polls to change government.
Mr Mwenda, the Economic Freedom Fighters president is demanding for early elections on account that Zambia’s economy has collapsed and that the UPND government has failed to find solutions to the economic challenges the country is facing.
Mr Mwenda said in a statement yesterday that the country had faced relentless economic hardships and President Hakainde Hichilema should therefore call for early elections.
“The recent attempt by the Bank of Zambia to inject US$50.3 million into the market to offset Kwacha depreciation is a clear reflection of the incompetence and recklessness of the UPND government” Mr Mwenda said.
Mr Mwenda said the strategy of increasing dollar liquidity on the Zambian market as a means to counter Kwacha depreciation was in fact having a negative effect on the performance of the currency.
He said the approach only fuels the demand for the US dollar, subsequently leading to further Kwacha depreciation. “It is both illogical and unsustainable for the government to continue injecting $50.3 million on a daily basis to meet this escalating demand. Unfortunately, the Kwacha depreciation has worsened to over K27 per $1,” Mr Mwenda said. CLICK HERE TO READ MORE