PRESIDENT Levy Mwanwasa has said the successes associated with Zambia’s economic reforms have raised challenges of the need for concessional borrowing to augment the gains.
And the International Monetary Fund (IMF) has commended Zambia’s economic performance in the last five years, describing the country as a showcase.
Dr Mwanawasa said in Lusaka yesterday that the IMF should help find a solution to the problems associated with borrowing of non-concessionary loans for the country to be able to finance infrastructure development.
He said this when a delegation of IMF executive directors paid a courtesy call on him at State House.
“Clearly, the success associated with the reforms we have undertaken in the past is raising new policy challenges, such as the issue of concessional versus non-concessional borrowing.
“Many African economies, such as mine, have responded well to the reforms. To go further, however, their economies need infrastructure, which costs much more,” he said.
On the other hand, Dr Mwanawasa said, the available concession funding could not meet the demand and wondered whether countries should give up the opportunities to expand the economies because of that.
“Are there no other possible solutions to prevent reckless borrowing associated with non-concessionary borrowing? The IMF should help us answer that,” he said.
He said the Zambian economy had greatly improved and it was being boosted by the export of minerals and non-metal goods, resulting in the quadrupling of export earnings while the national reserve was now more than US$1billion.
He was, however, quick to mention that development was a shifting target with never-ending challenges.
Currently, the most significant one was to expand the economy and ensure that development trickled down to the poor.
The President said it was for that reason that the Government introduced a new tax regime for the mining sector.
He assured that no mining company would get less than what they projected to get at the inception of their investments.
To prevent frustration of economic growth, he said, the Government had singled out energy as one of the hurdles and it would invest in new generation capacity as well as efficient management of the existing ones.
On the floods, Dr Mwanawasa said the country was at the risk of having an outbreak of communicable waterborne diseases, hence the need to help address it.
Earlier, IMF alternate director - Italy, Miranda Xafa and executive director for Africa Group One, Peter Gakunu, said Zambia was one of the showcases in terms of economic performance.
The duo said the country was on the right economic path and all it needed to do was to address a few challenges on the way to ensure continued success.
Mr Gakunu said Zambia had made tremendous economic progress in the last five years that had resulted in debt forgiveness, an improved macro-economic sector, among other indicators.
Apart from Ms Xafa and Mr Ganuku, others in the delegation were executive director, Aleksei Mozhin (for Russia), Ambroise Fayolle (for France), Jonathan Fried (Canada), Huayang Ge (China) and Age Bakker (the Netherlands).
Others were two of Mr Ganuku’s advisors, Diendonne Nintunze and Inyambo Mwanawina as well as senior communication officer, Lucie Mboto Fouda.
[Times of Zambia]
Economic boom mr President is just on papers and doesnot reflect on the grassroot.Show me the full indication that we a benefiting when yourself you are speeding billions on your health care.If I were you I can shut up my mouth. Hosps no medication, staff morale at its lowest,Schools no teachers,standard of education going down coz you donot feel the pain as your children are over seas studying. The police are corrupt not that they want but pathetic work conditions of work. No houses, fighting dangerous criminals who may give them money to turn away but they fight coz they are committed to save. Not being against the army, whom you have improved their salaries with little they do in barracks
Apparently Maureen Mwanawasa is not standing for 2011. She has taken a leaf from Hillary Clinton’s beating by Obama.Zimbos you must vote for my name sake on the 28 th March. Sata is your offer to be inuagarated by Bob still standing?
Ah imwe a Levy, amutibwelekeko chibongo? Ati anjani? Yayi ise kuno taonga chomene pa nchito iyo mukugwira baba Chuchu! Ndipo tikusopa kuti Chiuta wamudaliseni nakumupani mazuba yanandi nadi! Sono vikwelete vya kaloba yayi muleke vingatitambuzya. Usange kulije vikwelete ivyo vina concession, mbenu chilije kanthu tilenge delele, chipholya na nyungu! We do not need to go back to debt and HIPC! These are imortal sins, which even our children inherit like the sin of Adam and Eve. But chuma kwene panyengo yino tili nacho, Ba IMF boteta, kuti ma policies yabo ndiyo yatikwezya, ni China na copper, mbwenu! Yebo a chuchu ndine winu Chiuta abe namwe!
Thanks Maureen for relieving some of us.Go .. Levy Go .. Levy. Presidential wannabes will continue giving you ideas.
Maureen Mwanawansa you have just saved yourself the embarassment.Mr Sata would have eaten you alive. Thank God you have a brain
So Levy has convinced Maureen that the family third term won’t work. Iam sure they are seriously looking for a surrogate,not that MMD has any chance in 2011.
The President should create a new ministry for Dora Siliya called the Ministry of Sex and Love Affairs. If what has been posted here is true then she has more than enough ‘experience’ and ‘qualifications’ to handle such a ministry. It would then be right to call her the horny minista …sorry the honourable minister. The question I have though is, didn’t Chisha Folotiya know Dora’s past role as a ‘public worker’ at UNZA? Guys before you decide to settle down with some of these girls please do some BSC (background sex checks)!
I personally have realised that having an educated president such as Levy has served us very well. He has the confidence of his ministers and was able to fully delegate work, allowing them to own programs. As a result, Magande prudently utilized resources enabling us to reach HIPC, debt cancellation, Sikatana revamped the agric. sector and the investors smelled the good climate and prices, the rest is history. Manje mwati ni Ba Kafupi, he was literally selling council houses himself with B Mwiinga behind being challenged about his pricing of the houses! Zambia should make use of its own intellectuals to develop the country. Some politicians can’t be advised because they dont have capacity!
Recently President Bush was in Africa and BBC opened up a debate online where Africans from all corners of the World unanimously opposed the push for Africom on the African soil.
I picked up contributions of our fellow Zambians who did us pride in their contribution against neo-colonialism through Africom.
Guys keep it up I must admit I have noticed you are regular contributors on BBC debates.
SHOULD AFRICA WELCOME AFRICA COMMAND?
Military and security experts have been meeting in London to discuss the US command for Africa.
All SADC countries through their Chairman, Zambia’s President Levy Patrick Mwanawasa has already issued a statement against establishing a US Millitary Command Centre on the African continent. The fear is , the command may be used for caldestine Regime change-E.G- US wishes to topple Mugabe regime.
AUBREY CHINDEFU, LUSAKA
Why should the US send its millitary in Africa.The US government has engaged itself on the war on terror which it wants to include Aficans which is absolutely wrong.Let Africa sort its problems alone without any influence from the US
Why should the US send its millitary in Africa.The US government has engaged itself on the war on terror which it wants to include Aficans which is absolutely wrong.Let Africa sort its problems alone without any influence from the US
Chibwinja Francis, Kitwe Zambia
Certainly, Africa does not need to keep sustaining the USA Military industrial Complex. We need partnership in infrastructure development and technical skills for the common good than militarization. It’s time America in its entanglement-expansionist policy gave Africa a break.
Rabson Lungu, Zambia
It’s quite surprising that the US is still forcing it’s hand in Africa when this idea of building Africom has been totally rejected by African people. The world is sick and tired of the dirty tricks used by the USA and their allies. Come to Africa clean, this is not a time to fool around. Be like the Chinese who are welcomed by most African countries because they show respect and don’t have this uncivilized attitude that “I’m the boss”. Mutual respect first then business. I don’t need your Guns
Marlon, Nsofu
The US is a declining power. Africa should focus more on getting FDI and greater integration in the international political economy. America wants to come to the continent via military power. This is a wrong approach-past American engagement in Africa,via CIA left a trail of murders, collapsed states and civil wars(algeria).Now what will be the result of AFRICOM? Why dont they use soft power of money-not the money that is given to aid agencies( WFP,UNICEF and plethora of NGOs.But busines-proper
Lawrence Michelo, Lusaka
# 8 if LPM was educated why has he employed two ministers to man one portfolio.The ministry of Agriculture has a sick minister and a healthy one. What intelligence. Common sense would dictate to retire the sick man there is plenty of human resource to pick from. Afterall Sikatana was retired on medical grounds why the double standards.
ZOZO, HIPC was achieved as a blanket cover for most African countries.So it was not Magande’s initiative that we reached HIPC. I am sure the politician that cant be advised is LPM since he does not have the capacity.
Aubrey chindefu an old friend email:[email protected]
Two Agric ministers…
Kapita – sick, Sara – healthy is equal to;
-1 + +1, the result is 0!!!
ILLEGALS EXPERT(LLB,PHD) & Anonymous,
Has much as some us who have dug deeper know that you are bitter and jealous over Dora’s rise to firm and life achievements, you should be reminded that disparaging and abusing her personality will not add any value to your internal strife.FYI your mothers once flitted with the late Lemmy Mushota and Fines Bulawayo.Especially ILLEGALS EXPERT(LLB,PHD’s mother was a very loose one to UNIPists MCCs and District secretaries. Your mothers never use to wear underwear. They were ever ready to serve any overtures. It sis until after they were diagnosed HIV Aids positive with leaking over used ifinyo that they retired.Investigate your true dad.
Lusaka Times, I thought you had a policy in place against use of bad language, I find the last line in number 19’s contribution very distasteful and repugnant, to say the least
MODERATOR,
I’m sorry i don’t just see how you will salvage your image. So far you have proved if not in conspiracy that you lack character, culture,morality and sense of dignity.I’m sparing no rode on you in eveidence of what is visibly before every eye that navigates this papge. You have seen this blog degenerate into an insulting blog. But because you pleasure in that, you saw nothing damaging to the blog.There is sabotage to the blog right in your face. With this caliber where do you place this page in national cause? Do you see such realising your boss Sata any political capital?
The phobia seen here over a goal achieving Zambian woman is detasteful.
The insults seen here review a state of hopelessness, bitterness, defeat at all undertaken games in life. A sense of self realisation that prospects are that, for many years to come you will fail the “Central vetting system” based on your behaviour you may not even have realised exhibiting during your impulsive actions.
I beat you if these insults will give you any brighter day ever.Keep trying if that is the way you been told it works in your fantasised cause.
The insults seen here reveal a state of hopelessness
“reveal”
I have no choice but to concur with Pragmatist that this site z a PF site.How can one allow so much hate,insults & moral decay.
Always bringing Sata’s articles & his cohorts r given enuf platform to unleash their venom on intelligent bloggers.This was never the case a few months ago.
Hakwe, hakwe! Ba America mbathakati! Tikubakhumba yayi! Ivyo vi Jihad bati bizenavyo ku mother Africa, no way, this soil is blessed! It is innocent, with all evils that has hapened on it being imported, ie slavery, colonialism, now they want to export Bin Laden here, no way! A Bush nabo, mbwenu ibo boganiza kuti bapanga vithu vya zelu chomene kasi ng’oli mutu balijilethu! Mbo pusa, shaaa! Bize usange bokhumba, our technology is now advanced, we are no longer crash landing! Bafwenge nyifwa ya kankhumu, tina tuyowela ka! Baba, nowadays we just point a finger mbwenu muthu vizilisi kha! wali nyuku nyuku, dozo lende lende! Balekeni bize, guided misile will not work here! u r warned! Yebo!
#19 Yaba Yaba naufwa isoni sana! eyo mwalile kukoshi yasele baka amba!