zambia government refuses to control inflationa and interest rates in the country

GOVERNMENT HAS POINTED OUT THAT IT HAS NO INTENTIONS OF CONTROLLING THE CURRENT RATES OF INFLATION AND INTEREST RATES IN ORDER FOR THE COUNTRY TO ATTAIN MIDDLE INCOME STATUS BY 2030 BUT WILL ONLY INFLUENCE THE SITUATION THROUGH THE BANK OF ZAMBIA.

FINANCE AND NATIONAL PLANNING DEPUTY MINISTER CHILESHE KAPWEPWE TOLD PARLIAMENT THIS MORNING THAT IT IS DIFFICULTY FOR GOVERNMENT TO CONTROL THE INFLATION AND INTEREST RATES IN A LIBERALIZED ECONOMY LIKE ZAMBIA.

MRS. KAPWEPWE STATED THAT THE ONLY THING THAT GOVERNMENT IS DOING TO HELP STABILIZE THE INFLATION AND INTEREST RATE IS TO ENSURE THAT THE MACRO ECONOMIC OBJECTIVES ARE KEPT ON ENSURING THAT THE COUNTRY’S RATES ARE KEPT ON A SINGLE DIGIT RATHER THAN DOUBLE OR HIGH NUMBERS.

SHE NOTED THAT THE INTEREST RATES IN THE COUNTRY ARE REDUCING AS IT CAN BE SEEN FROM THE REDUCTION OF ABOUT 3.7PERCENT WHICH NOW STANDS AT 19PERCENT FROM THE PREVIOUS 22.7PERCENT.

MRS. KAPWEPWE WAS ANSWERING A QUESTION FROM LUKULU EAST MEMBER OF PARLIAMENT BATUKE IMENDA DURING THE QUESTION AND ANSWER SESSION, WHO WANTED TO KNOW WHAT THE MINISTRY OF FINANCE AND NATIONAL PLANNING AS A GOVERNMENT AGENTS INTENDS TO DO TO CONTROL THE CURRENT RATE OF INFLATION AND INTEREST RATES IN ORDER FOR THE COUNTRY TO ATTAIN MIDDLE INCOME STATUS BY 2030

published by augustine m sichula