A BATTLE of minds is raging on among netizens who are arguing about whether the sharp and persistent appreciation of the kwacha is good for the country’s economy. Those who once accused the UPND of failing to stabilise the exchange rate seem to have been given more than what they asked for, as the local currency becomes the best performer across the world. Today, the argument is that “too much of a good thing” is a bad thing, and they have found a supporter of that theory in Economist Noel Nkoma, who has cautioned that that excessive appreciation could hurt exports. Mr Nkoma argues that the kwacha should strike a balance around K20 to K22 to the dollar, but his...
