UNITED Party for National Development (UPND) Katuba Member of Parliament Jonas Shakafuswa has challenged opposition politicians to explain the current global economic crisis to party members unlike blaming President Edgar Lungu over the economic shortcomings.
Mr Shakafuswa, an economist, charged that it was naive for some opposition politicians to solely heap the blame of some challenges facing the economy on Mr Lungu.
“It’s been a trying moment for him (Mr Lungu) because he took over when the economy was already faced with problems from external forces.
“Right now, there is a global economic phenomenon which can’t be attributed to being caused by Mr Lungu,” he said.
He said that despite the challenging economic outlook Zambia was experiencing now, the President was making positive efforts to revive the economy.
In an interview yesterday, he said some challenges the economy was faced with were largely triggered by external shortcomings which could not be attributed as having been brought by Mr Lungu.
He said politicians should not forget that Zambia has for many years, been exposed to global economic shocks and manipulations including at the period President Lungu took over.
The former Finance deputy minister in the MMD regime said the country’s problems have built up over the year’s right through to Mr Lungu, who has only been in office for a short period.
He said since Zambia’s economy largely depended on the mining industry, the shrinking copper prices on international market have also affected the country.
This follows a significant reduction of copper prices, which was Zambia’s major foreign earner as well as low demand of the commodity by China, the country’s major market.
“As politicians, we know these global economic issues, let’s stop finger-pointing. We need to come together, give solutions and also help to explain these global natural causes to our party members to understand how our economy is being affected,” he said.
Mr Shakafuswa appealed to Zambians to remain firm and explore valuable solutions to foster more economic development as the country goes to the polls.
The Bank of Zambia (BoZ) last week also projected positive economic growth in 2016 despite the challenging economic outlook the country was experiencing currently
Thats the way mr shaka,we need people like you in PF
Next to comment positivity from opposition upnd will be nkombo.
August 11 is day of reckoning Shakas. Very soon you will go back into the political wilderness with the PF. Zambians have resolved to remove the visionless EL and is violent party and you are very welcome to join them and try to launder them. many problems we face are caused by lack of leadership more than the global economic crisis.
Shakafuswa, is the ministerial job taking to long to come? Spare us from you narrow analysis of things. You are not the only economist in the land. Anyways, just to remind you of the few economic principles, it is poor planning to borrow heavy on capital projects on the back drop of poor financial performance. PF has borrowed and continues to borrow on the background of poor global economic performance. Where has the money been used, even when this has been done? In case you have decided to forget;
1. flying 256 cadres to New York in a hired plane
2.funding by elections
3.appointing non yielding commissions of inquires
4.expanding foreign missions only to appoint relatives into these mission
5.expanding the size of cabinet and putting up to 3 deputies
The above Shaka cannot be…
JUDAS ISCARIOT! SHAKAFUSWA YOU ARE BOUGHT! JUST YESTERDAY YOU TOLD THE WHOLE WORLD THAT YOU ARE NOT IN GOOD TERMS WITH HH, UPND PRESIDENT. YOUR COMMENT IS ENGINEERED BY LUNGU FOR YOU TO SAY SOMETHING WHICH WILL INJURE HH, AND ALL WELL MEANING ZAMBIANS. WE ALL KNOW THAT LUNGU AND HIS PF HAVE FAILED THE ZAMBIAN PEOPLE. LUNGU HAS BEEN A LAVISH SPENDER OF OUR MEAGER RESOURCES, AND THERE YOU ARE YOU SHAKAFUSWA TRYING TO COVER UP THESE PF THIEVES. WHAT IS WRONG WITH YOU COMRADE? 30 PICES OF SILVER! SHAME ON YOU.
Shakafuswa should kiss his political career good bye in katuba. Unless he stands in Muchinga province he wont be an MP past 2016 if he carries on undermining the UPND executive . I personally will sanction that he be delt with if he does not stop this desperation for a job in PF.
Shaka if you are reading this just know that all what I say comes to pass 9/10.
How did Mwanawasa manage to revive the Zambian economy and the Kwacha at the time the global economy was in recession in 2008?
The 2008 recession is now past us and PF took over a very strong economy only to be damaged by Sata and destroyed by Lungu.
Lungu was advised to trim his cabinet to save money so that money can then be used top pay for services and service the debt to enable Zambia maintain its credit ratings. He…
A fo.ol Looking for a job, These are people who deserve no Position. Dull and st.upid.
Jonas Shakafuswa, for your information, I WACKED YOUR DAUGHTER , and I can tell you she’s not good in bed.
Wanzelu
Let me tell you, I wacked your mother and didn’t feel good as she was smelly though I did her through her backside.
Hey hey hey, spare Shaka for a while he is more educated than you. In-fact he is an economist, you guys just follow HH blindly the man is a business man he cant be a good president. He is the one telling you it is poor leadership, grow up guys.
Well Said Shakas. Certain leaders like HH cant see sense in what u have said becuase their focus is to get to state house. For them reality is not there. They can even kill just to make sure they get to that house.
What hunger can do to a once “respectable” man.
Once you align yourself with PF, your brain stops working. Shakas is clear proof of the notion.
Those Pf mps waiting to resign after dissolution of parliament should know that there are more credible mps from opposition also who will jump into the ship. Rifraffs will go out of Pf .
So is this man saying that BORROWING TEN BILLION DOLLARS that our children and grandchildren will have to pay back is not PFs fault, and is just a Global economic phenomenon?
Economist my foot!
Zambias problems are directly due to irresponsible and corrupt financial management by clueless iddiots that are only interested in their own pockets.
And then telling lies to hide their criminal negligence and theft of public resources.
And who is in charge?
Shakafuswa must be an admirer of one Chilufya Tayali and he’d be better off joining hands with him!
Foolish zambians wakeup,especialy job sicker like WANZELU,this is the excuse your visionless upnd wil feed you with in the next five years if you vote for them,it wil be pf borrowed that, pf did that, and they wil be no development for zambia. Lets give chance to pf to sort out this paraba.
Foolish zambians wakeup,especialy job sicker like WANZELU,this is the excuse your visionless upnd wil feed you with in the next five years if you vote for them,it wil be pf borrowed that, pf did that, and they wil be no development for zambia. Lets give chance to pf to sort out this paraba.ok
Voestsek! How come Tanzanians are not blaming Magufuli? Isnt Tanzania also affected by global phenomena?
EXCELLENT POINT FROM A TRUE OPPOSITION & A PATRIOT MEMBER. OPPOSITION LEADERD SHOULD NOT BE HYPOCRETS TO BLADE THE HARD WORKING PRESIDENT WHEN THEY KNOW THE GLOBAL ECONOMIC MELTDOWN.
This is what we see when a politician is about to defect to another party. First test the waters by making a few statements to see how people react… then jump from one branch to another like a monkey… common during election years
you’re right umutu!.the guy is a Judas Iscariot…
As a people we need to be candid: 1. PF Policy inconsistencies and poor implementation of policies, eg changes to the mining tax policies and even the back and forth on electricity tariffs; 2. The PF’s instigation of an unprecedented number of by-elections at a huge cost to the nation; 3. President Lungu’s choice of less competent ministers into his Cabinet; 4. President Lungu’s huge delegations when he travels which cost the taxpayer huge sums of money. The examples are many. These factors sum up to have an adverse effect on our economy. He could have done much better! When President Mwanawasa picked a competent team, this nation moved forward. Truth be told, let’s keep the search for more competent leaders, the current team is not!
@K Bwalya you are right. All these matters have nothing to do with external factors. They are all internal factors affecting our economy adversely!
These are people who we call genuine politicians.they are able to condem and give credit where its due.i like your point mr Shakafuswa.lets develop our mother land together. LUNGU 4 PRESIDENT NAFUTI NAFUTI
First you say HH munazondana these days. A day late you are telling us that president lungu is not to blame and what is the next step……jump into the boat and tell us teshi chishi cabanyoko….??????
I think if politicians were this objective we would be making more progress.. ba Quest Tanzania has a plus of us because it is on the coast. Do you understand the implication of the simple fact? That doesn’t mean we can’t do better and emulate good practices in our neighbors.
Ba shakafuswa u were almost roating in the political shelves and now u want to undermine the party that made to be in parliament.Ubo nibukopo nausilu.That post u will loose it!
You are a wise MP Jonas. We need people are not envious and saddists. Jonas in area infact there alot of people who have shifted there, it is becoming an urban area. You will win on PF ticket with a lady slide. These stingy tongas are always riding on other tribe in the name of bantu batatwe. You more mature in poltics than under five HH, who has nver been inbparliament.
I have said it before here that Mr. Shakafuswa is an intelligent man and does not need to support and follow the HH group blindly as we see it in these others.
Hon. Shakafuswa, going by the work PF and in particular the development President Lungu has and bringing to Zambians, you are guaranteed of a perfect win in Katuba on PF ticket no doubt! PF and President Lungu will win these elections unless the bloggers dont know what development means to people. Its massive development everywhere and thats what counts, NOT THE DOLLAR.
WE NEED PEOPLE LIKE SHAKAFUSWA.
Taking Mampi and Jk at $400,000 is an external factor indeed
Shaka, this is very positive,praise where praise due.Zambia is not Tanzania.Do you really follow global news on CNN, BBC, FOX News and many more.They expose a lot of suffering in many country and if you are minded, you will definitely , in Zambia we are even better off.The problem which in Zambia is the well to do want Boma iyanganepo, no patriotism.Congrstulations Atanga(Mrs.)
You are very correct on this one. These guys busy barking like mad dogs of bweenga do not understand the economy dynamics…do they want pf to feed every household…bf lunch & dinner…No! PF massive infrastructure works are adequate for every Zambian…other part as individuals we need to work extra hard…
Avoid spending all the days looking after milkless cows bakachema
External factors are always there, favorable or unfavorable. I do not think anyone is blaming ECL for causing the adverse external factors. What is at question should be how the leadership is responding and mitigating the impact of the adverse external factors and taking advantage of the positive. And then there is the internal factors which leadership has direct influence over, fiscal discipline, policy stability and predictability etc.
I think that kind of discussion (and action) would be far less mediocre than the “ECL is not to blame for China’s toothache”.
A PERSON VISION WITHOUT IS ONE WHO NEVER BEEN A WARD CHAIRMAN,HAS NEVER BEEN A COUNCILLOR,HAS NEVER BEEN A MEMBER OF PALIAMENET,HAS NEVER BEEN A MINISTER HAS NEVER BEEN ACTING PRESIDENT BUT…….WANTS TO BE PRESIDENT ….. THATS A PERSON WITHOUT VISION.
Thats what pipo expect from hh not where he promise choppers for all tonga chiefs,a cow each to all bembas,independent baloziland,a mine to each chief in nwp,a new chingola town to be built on nchanga open pit, who ever refuses spear or panga shame
Kikikikikikiki @ a new chingola town to be built on nchanga open pit and whoever refuses, spear or panganda shame. Kikikikikikiki these are banyamulenge kikikikikikiki they aren’t different from radical moslems
So Jonas is an Economist, Knew he was in the school of Humanities but majored in something else. Good to know.
With elections around the corner, its apparent that Shakafuswa is seeking political adjustment. No wonder he insults the crocodiles and yet he has not crossed the river.
Not to worry, he will step on the same crocodiles’ backs to cross the river. I suppose the crocodiles here are UPND.
Lets work togather and develope this country. Not treating each other though we were sharing some woman. Bring ideas togather after all we are all Zambians.
its about time somone reminded people bout the truth……
Shakafuswa is making a complete Idi.ot of himself! He is aware that upnd will NOT adopt him in this year’s elections because of his childish activities.
His Economics does not make sense:
1. Even if the economic performance fluctuates with the Copper prices, does it mean that you cannot plan and Diversify?
2. Is the called Infrastructure development pursued by the PF the only to develop the economy EVEN when ID.IOT Chakafuswa knows Copper prices are low?
3. The cost of too much borrowing – is it also caused by the copper fluctuations?
4. Closing the Universities by Kaingu – is it due to copper prices?
5. Power cuts – are they caused by copper prices not lack of polanning?
This HALF baked, smelling and pseudo Economist Shakafuswa should also be made to rest and confined to the…
This Frustrated Ido1t, Chilyata. Diversifying the economy is along team plan averaging 10 to 30 years. PF has only been in govt for 4 and half years! Infrastructure development is the way to go even HH acknowledged that last year before the elections. The cost of too much borrowing can never be caused by the copper fluctuations! Closing the Universities by Kaingu has to do with foolish students Period! Power cuts are an indication of lack of investment in the sector for a long time. Please go to school so that you will be able to analyse issues properly. Shaka is just stating the facts as they are.
BREAKING NEWS:
eNCA (RSA TV) has reported that rating agency Moody’s has downgraded Anglo American’s credit rating to junk status, meaning that Anglo American are now incapable of repaying their loans.
This follows on earlier reports that Anglo were to declare 80,00 workers redundant across their global operations.
Now this is the same company that HH is expecting to reemploy all the 4,000 miners declared redundant in Zambia. Shows you the level of economic understanding of underfive and his party UPND. If he can misread Anglo’s misfortunes or the impact of low commodity prices on the company, how can he understand complex issues like national economies? Is this the “leader” that UPND is floating to come and solve your economic problems? God forbid!!!
Please explain the Loadshedding now.
As you blamed it on lack of water, clearly there is pretty now, but still we are been load shedded explain.
Lying is never the solution PF. Lost my vote completely now and that of my family.
Working Gov you can do something to help. Kindly go jump into Lake Kariba and contribute to the rise in water level by displacement.
Please pee in kariba as the water level is still low,thats why you have the milon brothers amongst you and one of them is tuunda.
@WORKING GOV, you seem to be a victim of a small brain in a large skull? There is plenty of water now? You mean in your bucket? I bet underfive must be thinking the same as you when he looks at his swimming pool.
Shakafuswa has rightly observed all countries in the Emerging and Frontier Markets are in the similar position with Zambia Most of them have recently raised the rate signal in their economies like Zambia But Macro prudential should be the key for those individual countries in the long term
The recent country to raise interest rates similar to Zambia and nearer here is Mozambique and Uganda Mozambique has raised by 100 basis points from previous to 10.25% with reasons as PREVALENCE OF PRESSURE IN THE SHORT AND MEDIUM TERM on domestic inflationary due to slump in commodity supply in agricultural Remember also MOZA had raised its growth prospects also…
based on super commodity cycle and also on new Natural Gas discovered and due to slump in commodities is yet to be commercialised Currently Prospects have stalled ,if you follow happenings in Mozambique ,you will notice that Mozambique last raised its rate by 225 basis points in 2015 and you need to see the reasoning behind that
This is the similar issue with UGANDA UGANDA has been experiencing the same conditions as Zambia It has been stemming inflation around 17% and is trying hard to ensure core inflation is curbed in its monetary stance to a target of 5% over the medium long-term Similar Conditions with Zambia as Shakafuswa has rightly observed
Remember also UGANDA…
Mwalimu,
Do you know that the overnight lending rate for banks for kwacha is over 26%?
Treasury bills rate for one year is 27%?
5 years Bond 28%?
Shakas…
You are mature now. Politics is about analysis of issues before you comment. There is every truth in your statement. Keep it up and leave the todlers of hh, kakoma, bandaand gbm level of thinking…
recently discovered rich resources in Minerals Oil and GAS that its finding it difficult to operationalise due to global economic conditions
The Uganda’s shillings has seen a drop of about 32 % if you observe from April 2014 to September 2015 but marginally improving at 3,412 shillings to the dollar
It’s a similar pressure with Pretoria and Countries that will emerge will need not only rely on short term rates “ decisions but balanced with MACRO prudential tools
Shakafuswa is correctly observed and should be supported
Chilyata,
You are the ***** coz you argue with no data… Mashikini in total shame…
This remind me of one professor I asked about the Growth Prospects for his country looking at certain conditions and when he thought his country was to register a double digit growth
He saw the point and question and answered to diverge to SAY “PER CAPITAL INCOME”
Its just been proved that country though per capital income better but growth prospects have detoriated as hinted When I met his colleagues Recently, he confirmed to have discussed that I correctly observed This was a professor at one International University
So when Shakas Craal is right give him the support and observe where he is missing it
Shaka is a lethal misfit and not worthy to be in ruling or opposition party. He expected to be made SG for UPND but his Judas Iscariot spirit was quickly identified by the UPND and they let him remain without attention. A shameless failure this “brother” of kambwili by facial similarities is.
This is the first opposition MP from UPND to speak huge amount of sense. 98% of UPND MPs (including Dr Musokotwane MMD) hhave bought into this shallow, crazy idea that only a Tonga speaking President can and will solve Zambia’s problems. Be careful what you wish for.
icintu cintu umwene SHAKAS you are a real man not ukusapota umungulu,you have seen what the pf has done in your constituency let amashilu yale lumba Hakabwa Hakabwa kaili he is their god ba swaini,and will come and sand from your constituency
Because of load-shading there is going to be a baby boom in Zambia. People are seriously putting pipe, chopping each other like crazy. Shaka’s must be “slaughtering” at the slaughter house.
How about the Kwacha being the worst performing in the world, taking more than 250 people to USA etc
Date Rate Also CHG YR Ago
UGANDA 15-Feb 17.00% 0 0 11.00%
MOZAMBIQUE 15-Feb 9.75% 0 0 7.50%
SOUTH KOREA 16-Feb 1.50% 0 0 2.00 MAURITIUS 17-Feb 4.40% -25 0 4.65% NAMIBIA 17-Feb 6.50% 0 0 6.25%
INDONESIA 18-Feb 7.25% -25 -25 7.50% COLOMBIA 19-Feb 6.00% 25 25 4.50%
When you consider all else in the countries in the MSCI classifications, the case for Zambia is even better only the TRANSMISSION mechanism that is not effective
If you see the well intended decision by BOZ the transmission should be in rates equities and fixed incomes such as bonds and treasury bills but such is not the case…
Look at the confidence fore instance being exhibited in treasury bills especially with decision now from BOZ and those yields If carefully analyse, ,the Zambian currency ,if sentiments should be correct should be a BETTER PERFORMED currency really
BOZ has been cutting the amounts on offer for bills and bonds yet still they are undersubscribed due to a LACK of confidence…
what exactly do you write about Mwalimu? Today I tried to read what you write about but I don’t think you even know what its is because its not logical in English. maybe another language.
When you look at CURRENCY WARS ,the Brazilian Real was the worst performed currency in real terms performing worse against a basket of world “Reserve Currencies”, posting a loss of more than 35% against the lead pack of USD
For 2016 the currencies under strain to look for will be
1.Chinese Yuan
2.Euro
3. Canadian Dollar
4. Brazilian Real Itself
You look at the exposure and performance of these economies and see the reasons why
In short its not true that the Zambian Kwacha was worst and is the worst performing given Zambia’s exposure
“”Napyamo Just watching from side lines now””
People check how our colleagues in upnd react to the truth,shakas is being insulted for calling a spade a spade.now they are even beating people for attending meetings.are we going to survive in an event they form government? If someone left pf to join them,then it’s ok.what type of people are these?god help us.
What does it mean by saying well meaning Zambians? Zambians have resolved to vote for UPND’. useless comments. Just speak for yourself, do not generalise., *****. Who told you that PF will be voted out of office. HH akalila and his fellow Tonga tribalists. Bushe ni Zambia yanyoko where you just change governments any how. We have seen un precendented developments every where in the country and you want us to change government because Tribal tongas want to rule the country. I am afraid it is not this time for them to rule. They have to change their tribal behaviour. AMA FOURNTEEN
In fact the so called HH will go in the history of this nation as the most aspiring presidential candidate who failed elections and never won the presidency. UPND KUWAYAWAYA FYE
it mustn’t always be the case that any comment apparently made in favour of one’s opponents should be viewed with suspicion and accusations of looking for a job. i believe with all the statistics available shakas view cannot be more objective and must therfore be appreciated by all well meaning patriots
Which is worse the 2008 world economic recession or the current one? Who did it affect us in 2008?
Zunga siyakalima a vampire calling El a nothing.HH you are surrounded by wrong advisors that are just there to chew your money.please expel Zunga for the sake of peace.i doubt the apology HH made to the bwinjimfumu gvt if it will yelled anything. El never said what this *****(siyakalima)is telling us Zambians. Gary nkombo I trust you,please take up the role of an advisor to HH before these *****S divide this country.ba HH if you were president,honestly can you allow any one to call you a small thing?Zambia is forall of us and not for meembe alone,NO.siyakalima please if you have nothing to please your boss,SHUT YOUR CHI BEAK!!!lets peacefully hold our elections as one Zambia one nation.in the mean time am offering free tuition for siyakalima so that he doesn’t misinterpret el.