Secretary to the Treasury Fredson Yamba has said the Ministry of Finance is on high alert and meticulously monitoring all economic fundamentals to ensure that the gains made by the country during the reign of late President Michael Sata, are preserved.
Mr Yamba was speaking at Mulungushi International Conference Centre after leading management and staff from the Ministry of Finance in paying last-respects to the late President Sata.
He said this will ensure that this is improved upon by targeting them on enhanced employment creation and poverty reduction programmes.
“Our principle reference guide is the Revised Sixth-National Development Plan and speech which our beloved departed President delivered during the official opening of Parliament in September, 2014,” said Mr Yamba.
Meanwhile Mr Yamba has said government is steadfast in meeting its external debt obligations to ensure that the country’s credit worthiness remains sound.
He said in addition, both external and domestic debt levels remain below the national thresholds of 40 per cent and 25 per cent, respectively.
Mr Yamba said as at end of September, 2014, the total debt as a percentage of GDP stood at 30.1 per cent.
He said of this, external debt stood at US$ 4.7 billion [approximately K29.4 billion] or 17.85 per cent of GDP, whilst domestic debt stood at K20.45 billion [approximately US $ 3.267 billion] or 12.32 per cent of GDP.
He explained that for the period January to September, 2014, the Treasury paid a total of US$126.89 million external debt service of which US$ 47 million was the principal and US$ 79.2 million comprised interest payments.
Mr Yamba said during the same period, the Treasury paid a total of K8.4 billion for domestic debt service of which K6.8 was the principal while interest payments totalled K1.6 billion.
More resources are to be wasted during this election. If you were concerned about good management of resources you could have enacted a new constitution, advised the president to step down and make the judiciary more responsible. By the way
What happens if a candidate dies during the presidential election? Does the election go on? If it does, what if the deceased candidate wins the election? What happens then?
Just wondering why all this “high alert” when we are supposed to have kicked out the corrupt party of MMD? Should we take this as confirmation that we have hynas ready to pounce at the blink of the eye.
Yamba is in the forefront sharing the spoils. Stop throwing dirt in our eyes! Ask ba Sichinga aka bashi Nono, at least he is liberal with his truths!
PF people just love talking the talk and have lambently failed walking the walk. This is the most notably party which really loves media attention, all they do is talk and talk Donchi Kubeba.
How is the Kwacha currently doing? With PF at the helm of 3 years, the economy has dramatically increased in reverse direction. By elections have never stopped with PF, violence and lies is what makes PF survive. In history of the country, this is the most notably ANARCHY to have bestowed upon the people of Zambia.
Truth has completely disappeared into oblivion due to PF’s corrupt politicians and shenanigan leadership.
It seems God is also tired of PF, so please please, here is your best opportunity to choose a candid leader, unless you really enjoy the poverty and suffering PF is spread…
“Secretary to the Treasury Fredson Yamba has said the Ministry of Finance is on high alert and meticulously monitoring all economic fundamentals to ensure that the gains made by the country during the reign of late President Michael Sata, are preserved.”- This speaks volumes. PF is the way to go.
dont forget ebola alert also, huge gathering pa funeral! the PF govt needs to perserve lives for those still breathing. Most important please make Zambia panga free!
Ooh dear! Just plucking figures from the air after seeing the “Cobra’s” casket and you call this economic gains. Kaloba and sangwapo by PF has plunged Zambia into a debt country and kongole for the future kids. One has gone already, another soon and you call this fiscal discipline? Ala iwe.
Bother!Please give us a break!
‘all economic fundamentals to ensure that the gains made by the country during the reign of late President Michael Sata, are preserved.”-cow dung staff
“Our principle reference guide is the Revised Sixth-National Development Plan and speech which our beloved departed President delivered during the official opening of Parliament in September, 2014,” – oh dear! what speech and which plan,you mean the sixth -National Destruction Plan?
This commentary sound like desperate measures warning the hemorrhage of financial resources happening in the system. If the government has built in robust monitoring system such comments would be un warranted.
Everyone in Zambia was alarmed at self inflicting by elections induced by PF government were colossal financial resources were spent at the expense of development. Records speak for themselves on this voidable this financial mis application by PF govt.
@Acquilla
Absolutely right. Is he saying that all this time the ministry has not been on “high alert”? Shouldn’t they always be on high alert in managing government resources? To me what he is actually saying is. They were all working for Sata and not for the taxpayers. Now that their “master” is dead they can loot our resources liberally.
Choma Maanu,
Absolutely, he is saying exactly just that, the ministry has never been on “high alert” until now. When it comes to yapping from without, PF are the best. Total ANARCHY.
Wondering why they are on “high alert” now and not always?
The Skeleton Key
~206~
Dull, so the so called gains can be maintained by ‘monitoring’ them?
Desperation is the one word to describe it all. What a curse PF has become to this country!
All goes to show you that whether a leader of an African country dies there is absolutely no impact on the so called economic fundamentals. The post of president is so overrated in my opinion as there is no correction between death and rise in inflation, loss in kwacha value, stocks dropping on the local exchange, as examples. A president is a small semi-God that creates sycophancy in a nation as people fight for crumbs of bread falling from his table. Such statements from Yamba mean there is more than meets the eye which should make us think he is hiding something or is it that the man just enjoys to be quoted to be in the news? If we were to look into the credentials of this man (Yamba) somewhere he must be related to the President. What a disgusting regime so full of cronyism.
Meant correlation and not correction
Mei Muntangu actually PF is not only a curse but the new swear word in the country.
What Yamba actually meant was that because of Sata’s passing, many know its just a matter of time before they are out onto the pavement. Thus, all manner of schemes for last minute looting are being effected or hatched. Ministries, diplomatic missions – you name it.
BUSINESS came to a standstill in Kitwe yesterday afternoon after hundreds of street vendors and shop owners held a mass procession in honour of president Michael Sata. The vendors clad in black marched around the central business district singing solemn songs and later held prayers on Matuka Avenue for Dr Christine Kaseba, the first family and the nation. “The death of president Sata has robbed the vendors of a father and a leader. We have never seen such a leader who was so passionate about the welfare of his people. He saved our lives by allowing us to work on the streets to fend for our families at a time everyone rejected us. At a time we were being humiliated by local authorities, he stood up and protected us. That kind of a leader is difficult to find,” (continues below)
one of the procession leaders Dorothy Mulenga said. Mulenga said street vendors would miss president Sata for his soft heart for the people. “We are mourning this gallant leader. Many governments never looked at us and our plight but president Sata knew that life was hard on the streets,” she said. Another vendor, David Musonda, said the vendors would not be used by any political leaders for motives aimed at dividing the country because president Sata was a beacon of peace. Ba copperbelt thank you for being civil.
ref ———– I thought I would just share this.
America made history by having the first black president ! While be Africa makes history by having Ebola and killing thousands in Africa . Just letting letting you know the don’t say west Africa the only say Africa .lets all change how the international community think about Africa . Let’s all support mr Scott president until 2016 , we’re in earth can change things in 1yr next election . It will show really democracy around the world and foreign aid will come from around the world . China is already in Zambia getting raw materials and western what to come back into Africa and promote there democracy , the is know oil of there so know war just supporting really change . Let’s all support me scott as president and make our on history . The will send more money into our economy .
Yumba, just P**** off! Your corrupt Bemba clique has brought Zambia to its knees. What happens in 2022 when Zambia has to repay the 4.5bn eurobonds? What proportion of the GDP will that be? Haven’t you stolen enough with your cousins and uncles? You should be ashamed of yourselves.
Keep your record intact , this is not time to show financial and economic prudence. Wait your time will come to give such statements. No one is Pursuing you. Just do the right things. Bola Panshi
Its true mwandi , Bola panshi why panic now time will come when you will have to give an accout of your looting.
Not only that but they should also ensure that no scavengers in PF loot govt resourses. Police, ACC, DEC and OP must be on high alert on these scavengers.
Clever thief! This is what you say when you are stealing. You shout ‘high alert’ to detract attention from yourself while you are stuffing your pockets with looted resources. Yamba is Sata’s close relative whom he used to steal public resources. Thank you for alerting us!!!