BNNB Statement 7thApril, 2020 POOR ECONOMIC PERFORMANCE: MORE DAMAGING ON POOR HOUSEHOLDS
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BNNB Statement Tuesday 7thApril, 2020 POOR ECONOMIC PERFORMANCE: MORE DAMAGING ON POOR HOUSEHOLDS. The country has in the past month been faced with both economic and social difficulties. We have seen the country’s currency losing value against major currencies. From the 2nd to the 26th of March 2020 the Kwacha depreciated against the US dollar by 18.6 percent. On 2nd March 2020, the Kwacha traded at K15.22 to US$1. By 26th March, the Kwacha had moved to K18.05 to US$1. About the same time, we were faced with a shortage of the country’s staple food; mealie meal, which in turn...