As someone who projects himself as an economist, UPND leader Hakainde Hichilema has not been sincere about the relationship between the US Dollar and the Zambian kwacha.
We expected him to atleast understand factors that influence depreciation and appreciation of the local currency against the major convertible currencies.
For instance in 2017, when the Kwacha appreciated against the US Dollar and other currencies, Hichilema failed to concede that the appreciation was as a result of reduced government expenditure and improved confidence following meetings between President Edgar Lungu and the mining companies and instead of giving credit where it was due, he elected to peddle lies to Zambians for the purposes of achieving his political ends.
Herw we are again akainde Hichilema projects himself as an economist and management expert has has gone town criticizing the PF government for the relatively high exchange rate of the Kwacha against the Dollar when he did not acknowledge it when the our local currency had appreciated.
It appears this is his favourite topic to speak about whenever he gets an opportunity but he conveniently forgets the history of the Kwacha – Dollar relationship. That is quite surprising for one who claims to be an economist!
Anyone who has studied the subject and is aware of the happenings over last six decades can say that Hichilema is only trying to radicalize people on economic issues which he barely understands going by his recent analyses which are in the public domain.
He forgets that emotions have no place in economics and financial management.
It is there for all to see that the standard of living of our people has been gradually improving since 1991 and today, there is a considerable number of citizens who own houses, cars and enjoy luxuries of life which which not the case few years ago.
Hichilema is busy pontificating about the Dollar which is not at all an issue.
Instead, Hichilema should talk about economic fundamentals as opposed to wasting everyone’s time by belabouring non issues.
Dollar exchange rate doesn’t affect the common man at all and Hichilema should stop singing the same tune and find a song that is really something worth singing. Else he sounds like a broken record with no message at all.