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Wait for it; the worst is yet to come. Psychology doesn’t fix an economy but economic output does. We have been writing and calling these things out but nobody seems to listen.
As the economy stands now, there’s nothing Professor Kallon can do to solve this crisis. The least he can do is for him to resign. I still can’t get it; how can you recalibrate a currency during a period of increasing inflation when all other factors remain constant.
These are basic economic principles every economist should understand and learn from histories of the same. I can’t blame the Professor that much. It’s a combination of decisions made by both the past and present administration that has led us to where we are today.
Even if we hire the best economists in the world, our economic problems will not solve so easily if we do not face the realities and confront the fundamentals. There’s no two way, we need to maintain a positive balance of trade by increasing our net-export and reduce government expenditure.
