{"id":54182,"date":"2023-12-19T19:36:31","date_gmt":"2023-12-19T19:36:31","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/?p=54182"},"modified":"2023-12-19T07:22:22","modified_gmt":"2023-12-19T07:22:22","slug":"mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist","title":{"rendered":"Mining Production Decline Contributes to Weakening Kwacha, Says Copperbelt Economist"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Copperbelt based economist Manase Siwila believes declining production in the mining sector is contributing to the weakening of the local currency Kwacha.<\/p>\n

The Kwacha on Thursday morning breached the K23 barrier when trading between K23.00 and K22.57 against one dollar. Major mining firms Konkola Copper Mines, Mopani Copper Mines and Chambishi Metals have not operated at full capacity for over three years.<\/p>\n

Mr. Siwila has bemoaned the weakening of the Kwacha against major currencies such as the US Dollar. Siwila notes that the weak Kwacha shows that the local economy was struggling. He proposed that increasing exports and reducing externalization of funds by foreign investors can help to stabilise the Kwacha.<\/p>\n

\u201cCheck the productivity levels, they are so low. The production in the mining sector that we all know helps have foreign exchange into our country seems not to be on the right track in terms of production,\u201d Mr. Siwila noted.<\/p>\n

He continued:\u201dRemember we are an importing country, for that matter we seem to have too many imports as compared to exports this in itself has weakened the Kwacha. The weakening of the Kwacha is not good for the economy. This is why the cost of living is on the higher side because we have a lot of money that is being externalized. Mr. Siwila concluded:\u201dWe need to increase production in order to arrest the weakening of the Kwacha. We need to attract more foreign currencies.\u201d<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Copperbelt based economist Manase Siwila believes declining production in the mining sector is contributing to the weakening of the local currency Kwacha. The Kwacha on Thursday morning breached the K23 barrier when trading between K23.00 and K22.57 against one dollar. Major mining firms Konkola Copper Mines, Mopani Copper Mines and Chambishi Metals […]<\/p>\n","protected":false},"author":84,"featured_media":54180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,248],"tags":[234,235,233],"class_list":["post-54182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nMining Production Decline Contributes to Weakening Kwacha, Says Copperbelt Economist - Zambia<\/title>\n<meta name=\"description\" content=\"Copperbelt based economist Manase Siwila believes declining production in the mining sector is contributing to the weake ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mining Production Decline Contributes to Weakening Kwacha, Says Copperbelt Economist\" \/>\n<meta property=\"og:description\" content=\"Copperbelt based economist Manase Siwila believes declining production in the mining sector is contributing to the weake ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-19T19:36:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2023\/12\/sm_1702957829.574389.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mining Production Decline Contributes to Weakening Kwacha, Says Copperbelt Economist\",\"datePublished\":\"2023-12-19T19:36:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist\"},\"wordCount\":260,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2023\/12\/sm_1702957829.574389.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/mining-production-decline-contributes-to-weakening-kwacha-says-copperbelt-economist\",\"name\":\"Mining Production Decline Contributes to Weakening Kwacha, Says Copperbelt Economist - 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