Veep Describes Current Interest Rates as ‘Madness’

By admin - Tue May 22, 5:40 am

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Vice President Guy scott says it is madness for Zambia with a small economy to have interest rates paged at twenty five percent.

He says this state of affairs has led to unemployment as people are unable to access financial services at a reasonable rate.

Dr. Scott says most developed countries such as China have low interest rates making the country develop and create job opportunities.

He was speaking during the IMF, ILO, TRADE UNIONS and Government conference on employment, Decent Work and development in Zambia.

And Zambia Federation of employers’ President Alfred Masupha says the federation has come up with a model to create between two thousand and three thousand jobs over a three year period.

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