UPND ACCUSED OF CONTRADICTIONS IN CURRENCY PRINTING DECISION
…you can NOT distance yourselves from the decision to print new currency while actively implementing it says Dr M’membe
Lusaka… Saturday February 15, 2025
Socialist Party (SP) President Dr Fred M’membe has questioned the UPND government’s consistency in decision-making, arguing that they cannot distance themselves from the decision to print new currency while actively implementing it.
In a statement, Dr M’membe observed that both the Minister of Finance and the Bank of Zambia Governor had emphasized that the Bank of Zambia Board approved the decision to print new currency in July 2021, during the Patriotic Front (PF) administration.
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However, he argued that if the UPND government truly opposed the move, they had the power to stop it—just as they had halted other policies inherited from the previous government, such as the civil servants’ debt swap.
He stated that by going ahead with the plan, the UPND had effectively adopted it as their own policy and should take full responsibility.
Dr M’membe further criticized the government, suggesting that their actions implied a lack of fresh ideas, as they were implementing a decision made by the very administration they had criticized for economic mismanagement.
He argued that the government’s stance was contradictory, as it both dismissed the PF’s economic policies and, at the same time, proceeded with a major financial decision initiated under PF rule.
According to Dr M’membe, this amounted to an indirect admission that some of the previous government’s policies were beneficial.
“Effectively, it’s an admission that some of the PF policies were good despite speaking negatively about PF fueled inflation. Any negative outcomes from this decision lie squarely on the laps of the UPND government,” Dr M’membe stated.
UPND ACCUSED OF CONTRADICTIONS IN CURRENCY PRINTING DECISION
