By Kamuti Muyambela
President Edgar Lungu and opposition UPND leader Hakainde Hichilema have both claimed credit over the appreciation of the Kwacha against other major convertible currencies.
Hichilema was the first to go, claiming in a twitter post that “We said it, that confidence in the market will make the Kwacha appreciate. Independent opinion polls have reported a likely UPND victory, and the markets are already responding. Let’s continue campaigning. It will get better.”
However, President Lungu later countered that with his own tweet, stating: “I’m happy with the efforts of my government, whose fiscal and monetary policies have ensured that our currency gets back on a positive trajectory amidst the Covid-19 pandemic. The Kwacha is now trading below K21 per dollar, closing at K20.7 per dollar on Friday.”
