Economist Says Export Proceeds Framework Could Have Boosted Kwacha
Written by Mafken FM Newsroom on 8 November 2024
By Comfort Nthala
Economist Yusuf Dodia has criticized government’s perceived failure to fully implement the export proceeds tracking framework, suggesting that it has stunted potential growth in foreign exchange inflows.
In a phone interview with Mafken News, Mr. Dodia explained that, with effective execution, the framework could have funnelled between $40 million and $50 million in export earnings daily into the country’s banking system within the first 90 days.
He added that such an influx of foreign currency could have strengthened the Kwacha against the US dollar, potentially bringing the exchange rate to around K15 per dollar.
