Kwacha appreciation caused by positive sentiments resulting from IMF talks – Kanyama

ECONOMIST Chibamba Kanyama says the appreciation of the Kwacha has been caused by sentiments as a result of the country’s discussions with the International Monetary Fund (IMF). According to the Bank of Zambia, yesterday the Kwacha closed the day at an average of K16.3041 buying to the Dollar and K16.3541 selling to the Dollar. In an interview, Kanyama said the conclusion of the IMF talks at staff level had stirred investor confidence, hence the appreciation of the Kwacha. “We have seen the Dollar fall off in the past few days, it was above 9.4 percent and now in the last 24 hours about 7.5 percent of the US Dollar. This is driven purely by sentiments. This should not come as…...