The Forum for Democracy and Development (FDD) has demanded the resignation of Finance Minister Alexander Chikwanda stating that his economic policies are in disarray and a threat to the social growth of the country.
FDD Spokesperson Antonio Mwanza says Mr. Chikwanda misguided and outdates economic policies and practices have led to the country experiencing a high deficit than projected.
Mr. Mwanza adds that increased borrowing by government is taking the country back into the debt trap which will result into reduced public spending in critical economic sectors such as education, agriculture and health.
He says the proposal to impose a two year wage freeze on public sector recruitment will compound the unbearable youth unemployment burden as thousands of youths that are currently graduating from higher learning institutions will become destitute.
Mr. Mwanza has also wondered how the revoked statutory instrument no.89 was promulgated into law when government standard clearly states that such laws can only be passed with Cabinet approval.
Should really the FDD be commenting on economical issues beyond their grasp?
Yes, they have the right to comment, especially when they are correct like in this case. PF needs to listen now and not to wait till they have thrown the whole country into an economic down fall.
I would argue that it is pa fipuba who have failed to grasp economic management. From billions in reserve (left by the supposedly corrupt RB) to scrambling for ka $40 million from Saudi Arabia!
He is too old he needs to retire
Thanks
Ba chikwanda mwitusebanya mwalechula no home no ka money
Nga mu le settinga his majesty sata we will get rid of you we have now sorted all the mess in our party we want 2016 to come so we can bury the tongas and lozis for life
Sata for life mwandini ubufi bubi
yes they are free to comment, and who are you to judge them? its a free country with a growing democracy. Everyone a right to say/comment/ and or give their opinion, be it a church leader, maids, cleaners, opposition leaders and members, taxi drivers and coboys, we all have a right to recommend, commend and crticize actions of our leaders. we here to make government accountable for all its action. So if our Minster of Finance is misplaced, let him retire, pr resign before we can constant rising of inflation, constant rising of debts. He (Minister) should give clear and workable economic guidance to the nation and un informed president. this will also help him not just talk and threatening people investor without.
Yes FDD are free to comment, and who are you to judge them? its a free country with a growing democracy. Everyone has a right to say/comment/ and or give their opinion, be it a church leader, maids, cleaners, opposition leaders and their members, taxi drivers and coboys, we all have a right to recommend, commend and crticize actions of our leaders. we are here to make government accountable for all its action. So if our Minster of Finance is misplaced, let him retire, or resign before we can continue experiencing constant rising of inflation, constant rising of debts. He (Minister) should give clear and workable economic guidance to the nation and to the un informed president. This will also help him not to just talk and threatening investor without making consultations.
Mushota, How about your Irish husband, he is also too old even to……. at Least Sata is still strong.
I think Chikwanda is under so much pressure that he wants to resign because he is being forced to borrow and spend recklessly by Sata. How ever Sata has ensnared chikwanda by allowing him to corruptly benefit from some deals which Sata knows are dodgy and could get Chikwanda into trouble. So Chikwanda can not resign for fear of being blackmailed by Sata even if he knows it is right thing to do.
Honestly BA JO what has the TONGAs done?
Madam Nawakwi, are dreaming of being appointed Finance Minister again?
ABC is an old man with old 1968 economic policies. It is time to rest ba Mudala. Shileniko abaiche. Mwalatukwafye insele everyday sure. Shikulu ka tusheni.
chikwanda shouldn’t have been finance minister in the first place because he did economics of increasing prices of bread and sugar in the kaunda era. things have changed drastically hence need for a contemporary economist not this fossil
The Level of SENILITY running this country is indeed BREATH-TAKING!!!
You have a point Mr. Mwanza. However, its Sata who should resign for instigating unplanned for expenditures. What good will construction of a stadium in Mongu bring about? While we Zambians appreciate infrastructure development, we know that infrastructure alone is not development.
the power lies in the ballot, ba fikala twalemyeba ati ba PF fikopo, corrupt and no plans for zambia, ati ubwato? be prepared for hard times, first- no jobs for the next 2 years, no salary increment but meanwhile prices, rentals, bus fares will be increasing.
FDD, your reasons are not enough to retire BIG somebody although somehow sensible.
All these PF ministers have huge shares in PF Party.
ABC does not operate in isolation but is guided by the PF manifesto. If he’s failed it means the all Cabinet has failed.
Oh no ! Just when i thought this party is dead and buried.
Time for Rupiah Banda and Musokotwane to come back steer our economy back t health like they once did.They need to save us from these clueless PFools wrecking our once promising economy.
No, No, don’t talk about RB again….we had enough from that mambala!
indeed..the man just believes in borrowing and poor spending..
ABC is old and senile. Efyo baba shautiile pali SI 89 kuli shikulu bantu nao ushashibapo nangu kamo mu Economics. KCM issue should be handled carefully or else kuti mwaipaisha abakaele. Naifwebene ukuvota vota.
The wage bill is suddenly too huge, pleasing people but getting a boomrang that hits you hard enough and end up diving into spiralling deep debt sink hole. At the same time giving away your source of revenue through such things as stat. inst no. 89! Caught up in the middle. Mr Chikwanda focus on income verses revenue. Teach our people to live within their means. Do not create people who believe in debt. Debt can be embarrassing real time, at national, community and individual levels. Teach us economic prudence of not running to getting more loans but earning revenue that fends against borrowing.
Chikwanda is a known and seasoned crook. He was known at one to `invoice for air` meaning no supplies or works done but he could invoice and share with other facilitators on big contracts. What do you expect if you bring him back as Finance Minister?
Lmao ati not this fossil yaba these guys here can cut you in half
In Ghana a richman is called yesekeni, it means he who does not spend,reduced spending brings about savings and eventually a rich nation,instead of borrowing for development we then may use our saved resources.As long as we continue playing to the gallery on unplanned expenditures we will be called poor.
At least even Lozis will have a stadium. they will practice in Sand like Brazilians and play good football in a stadium. the will be noticed like Mufalali Mufalali and Kalimukwa people who played football in the old days. Uwa kwenshya ubushiku uka mutasha ilyo bwacha. if H.H will be President in 2021 he will praise Sata for having done everything he will just be growing carpet grass along the roads which sata will have done.
FDD (FiDiD) still exists? LOL
FDD timely advise. Our children will bear the burden for our mistakes.
When FDD comes to power, then the FDD government will appoint its own Finance Minister. The economic policy under PF is alright. It is wrong to reject borrowing at a time of colossal infrastructure investment and development. Let public workers enjoy their new salaries. Increase your party investments and improve your manifesto.
You have a point about Chikwanda but NOT that FDD will come into power…
Ladies and gentlemen,
Borrowing is part and parcel of development. Even the UK, USA, Australia etc have debt. They need money for infrastructure development- which in turn creates jobs. As long as the debt is reasonable and is not contracted for consumption, I have no problem with it.
The issue is not borrowing, but economic policies “made on-the-go” to cover-up lack of planed policies.
Monitoring the borrowed cash is what is difficult in Zambia..manage you development or before you know it you will have built ten houses all at roof level and no funds left for completion,,borrow responsibly and minimize projects.its called prudence.
Kiki ?? Is that you ??
I am at Peace because we still have People like Christopher Mulenga.
In this case we have no one to monitor how these finances are spent or on what they spent on, so when money comes in its going in their pockets, well, most it, and that is borrowing for the wrong reasons. But you do have a point on borrowing to improve infrastructure, they is no problem if done properly.
Kalebalika mukwai
Umulilo wakwa Lesa ulafulunganya brain.
@chanda beu
Be specific. Do you mean shingles scars on Chikwanda’s face? It looks like kanayaka bamudala.
Borrowing for infrastructure development..The only sensible thing should be when such infrastructure is built it should start repaying the debt on it’s own. Not that kind of borrowing were by the infrastruture is built,then it doesn’t produce any profits to repay the loan..abash.Later on you make the people to pay back by way of introducing gratuitous taxes,subject your own people to silly programes like SAP,and Hipic.Spare us pls we have been through that kind of foolish borrowing.This time around all right thinking ZAMBIANS want to enjoy the fruits of there sacrifices.
Give him 90 days?
It is so shocking to see our Kwacha falling this far. It is the waste ever. How can we allow it to fall to the level of K5.5 per 1 USD? Fellow countrymen where are we going? Is it because of the talks and threats between the mines and the Govt? I can’t figure it out please help me
Exchange rate will be k5500 and not beyond,if the rate should be 6000 againest the mines it’s better then than the economy being held at ransom by these mines.viva Mugabe.
Kaloba is kaloba whatever you call it. When the start demanding for their money you end up with sleepness nights. The copper is ours on paper only. Heed FDD advise.
I have always wondered if the voters or the opposition have legal rights to demand the resignation of any top official if circumstances show that indeed there has been a fall out in the execution of their work which could result in the collapse of the economy or endangering the country?
Another question…… Does our paliament within its juridistiction allow common members of the public, say represantives from youth organisations or any other grouping not politically inclined but serving the nation indirectly, to be heard?
YES. EVERYONE HAS THE RIGHT TO COMMENT.
BUT BEING TAKEN SERIOUS IS NOT A RIGHT.
IN SHORT, YOU CANNOT INSIST THAT YOU SHOULD BE TAKEN SERIOUS.
Chikwanda economic policies are in disarray and a threat to the social growth of the country. Very true indeed
Therefore let positions in economics or management of the country depend on an individual Let there be a framework that will have a longterm view with all indicators aligned and projected accordingly with key custodians the officials in the ministry not politicians who often get advice from professionals otherwise we will be always moving back and forth if that will depend on an individual because there is always inclination to certain policies given the paradigm and learning inclination of that particular.In modern economics there is always a balance between monetary and fiscal policies infact the two compliment were the other has failed. Having national planning will save us most with direc
There is nothing wrong with borrowing if the economy ought to outgrow the debt. The same is also true for wage increases.
Ya but our capacity to outgrow the debt is nonexistent, that’s why countrymen are worried.My dad always told me to live within my means,it’s cheaper.
I feel sorry for this incopentent PF government
Uncle Chikwanda, we the members of your family advised you against accepting the job offer from Mr Sata. We told you that the world had moved on from your Kaunda days but you defied us saying you still had a lot to offer. Mwamona nomba mwala tusebanya.
This is what you get when you vote for dreamers,in 2016 we will be eating link Zambia and pave Zambia,business is getting worse by the day,people will have no money to buy cheap food come 2016 all the money will go to some greedy contractors who pay our local workers peanuts.Food security should have been the focus first, infrastructure like dams,silos,agro input factories,poutry and beef processing not forgetting new farm blocks should have been the driving force to link Zambia,our neighbours are hungry we should have taken advantage to make a quick forex,not just getting loans for wasting assets.
the power lies in the ballot. we told u b4 elections that PF had no plans for zambia, its a bunch of idiots, crooks and thieves, now ba fikala u ll pay for voting blindly. prepare for hard times, no salary increaments, no job recruitments but meanwhile housing rentals, transport fares, prices will increase.
When the economy has moved from its path and existing policies are not flexible enough in the time it takes to be enacted and be operational then you operate temporary on SI instruments which otherwise with your foresight you could have anticipated and passed statutes. Its like an overnight cafew to keep in check while permanently enacting the long-lasting given the well understood background.The policies have been cast and the expenditures defined for the foreseeable future changing people holding the positions and desired directions as cast will just make the unwinding the process to be lost “The learning Curve as it where” Advising and encouraging the ones already positively will do us good
Used to being lashed at as a little boy all because of being minister of finance to a president related to him. How do these old people in PF govt sacrifice their integrity with cheap and poor administration in statehouse. Another old man is Dr Guy Scott whose DNA as a European in origin to bear some level of honesty is completely dry in him that warrants him ‘MUZUNGU OPUSA’. In any case that is the legacy of Sata PF lashing out at his ministers in public so as to be seen as tough talking which is his real weakness. This weakness is underpinned by uprisings within his PF party that has proved hard for him to put a stop to.
There is nothing wrong with borrowing for infrastructure development. Why do seemingly educated people want Zambia to remain stagnant while claiming at the same time that we are reach in natural resources? It is like those villagers who own hundreds or thousands of herds of cattle and they cant even buy themselves a pair of shoes or even a decent pair of pants.
Its for everyone to say What they feel for mother Zambia. The minister is really taking us back to a debt trap. He should resign indeed. Guess he is too outdated for the position.
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