The World Bank has praised government for its good economic management that has led to steady increase in the country’s economic growth rate.
World Bank Executive Director for Africa one constituency, Toga McIntosh, said an upward revision of the growth rate is an indication that government has put in place good policies aimed at addressing the challenges of poverty.
Government yesterday announced the revision of its projected 2010 economic growth target from 5.8 percent to 6.6 percent due to good performance of various economic sectors in the country.
Speaking at a media briefing in Lusaka Mr McIntosh said without good economic policies, it hard for any country to effectively fight the vices of poverty that usually affect the growth rate.
He said the policy and action of the World Bank for the past 10 years has been focusing on encouraging increased growth rate through poverty reduction.
He noted that this is why it is important for the member states of the World Bank to have mechanisms that are in line with the bank’s vision of eradicating poverty.
Mr McIntosh also disclosed that the World Bank has mobilized funds to be used for economic development especially in developing countries.
He added that it is for this reason that Zambia, with a background of good economic indicators,should benefit from this fund for its infrastructure development.
Mr McIntosh, whose tenure of office is ending on 31st October 2010, has since thanked Zambia for actively participating in the activities of the bank.
He also urged his Sudanese successor to ensure that he effectively represents the interests of the 22 member states in the Africa one constituency, which is an Anglophone region, while the Africa two is a Francophone region.
[ QFM ]
Great news. Even the World Bank is seeing the progress govt is making in growing the economy. It is promising to see international organizations have faith in Zambia’s economic progress.
Since when did this institution ever really care about the poor and development? Its naivety that would make any Zambian believe these characters are here for Zambians. They give you a dollar with one hand while they take a thousand worth of resources with the other. Traitors.
this will not go well for sata, hh and their cohorts. thanks world bank for giving praise were its due. jealousy bums will just gnast teeth in envy and rage. we are a working govt while the rest derive pleasure in ukukumbwa
Economic growth is not the only indicator for fighting poverty – in most cases it does not even relate to people’s lives. Economies can grow but both wealth, goods and necessary services do not necessary trickle down to people. Good economic policies are those that grow the economy and improve people’s lives. The world bank have failed to get this point reason for which they are so quiet about lecturing America whose economy is in serious decline because of increased poverty!
The world bank and IMF always hail govts for any improvement in economic performance. It is not news to us and this does not signify any thing in terms of poverty level.The world bank hailed the gvt, when penza was Minister, they also did the same when katele, magande and kasonde were ministers. Have we seen any improvement in poverty levels? Go UTH and see for yourself.
By the way, the world bank and IMF are no longer a factor in thirid world economies. They are fauilres, no wonder some southern American gvts are planning to form parallel institutions to compete with these thieves and thugs. You remember SAP?
Toga obviously didn’t visit UTH and if he did then he one of the dull chaps who fails to hit the nail right on the head. Zambia will never eat figures please ba mumbwe imwee
no. 5 spot on!! We are still ranked really low on the UNDP HDI despite all the hailing!
#5 You are very right. I wish Sata would come in and start implementing his policies. There would be medicine at UTH. That man gets things done not this stupid peanut grower.
Typical of Zambians. They have eyes but they refuse to see. They have ears but they refuse to hear. Kufwa na NO! of cause the poverty levels can not be wide spread over night after so many years of economic down-turn. Zambians lets give credit where it is due. From the days of Penza; how many people have built houses and how many people own cars. Come on look at our roads in every town look at new houses coming up in every town. Lets have a spirit of being grateful for the small things that are happening and the big things will fall in place. God will bless Zambia if we remove this ingratitude.
If Sata is your saviour, I am out of here fast, before he brings down even the little progress being made.
So whats all that nonsense that the POST write about?