Africa-Press – Zambia. Former Republican vice-president Dr Guy Scott’s wife, Dr Charlotte has agreed with economist Trevor Simumba’s observation that manipulating a currency to achieve appreciation is suicidal.
Dr Charlotte retweeted Simumba’s tweet where he stated that: “Zambia’s economy is highly import dependent and also depends on one commodity for forex earnings copper. In such an economy manipulating a currency to achieve appreciation is suicide.
You harm the very sectors you need to diversify away from copper and further depend on imports.” Apart from retweeting, Dr Charlotte posted on Simumba’s tweet stating: “this is absolutely 100%right, and it’s just not being said.”
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