• The aid from USAID is going to add value to the economy.
• It is going to increase the supply of dollars on the market.
• The new dawn government should use the funds prudently.

An Economist says the $18 .5 million additional funding to Zambia by United States Agency for International Development (USAID) will increase the supply of dollars on the market.
Mambo Phiri told Money FM News in an interview that the increase in Dollar supply will help stabilize the Zambian Kwacha which has been depreciating due to high US dollar demand.
Mr. Phiri urged government to ensure prudent use of the money by revamping all economic sectors that have been adversely affected by Covid-19.
“The aid that we have received from USAID is going to add value to the economy, because it’s going to increase the supply of dollars on the market. So this in turn is going to assist to make sure that we stabilize our currency.”
“We just hope that the new dawn government will be able to use the funds prudently to make sure that all those sectors that have been hardly affected by Covid-19, will be revamped and people to be financed so that all those sectors benefit and ultimately the Zambian people at large,” Mr. Phiri stated.
He further advised government to make sure that the funds create stability in terms of the country’s financial and macroeconomic position.
Government should make sure that we achieve all the goals in the fight against poverty as well as to ensure that we improve the livelihood for the Zambian people. So it’s very important for government to see to it that they utilize those funds prudently and create stability in terms of financial and macroeconomic position of our country,” he added.
Recently, the United States Agency for International Development (USAID) announced an additional 18 .5 Million United States Dollars in funding to support the people of Zambia, including the country’s fight against COVID-19 and HIV/AIDS.