GOVERNMENT has said it is committed to secure macro-economic stability for the country.
Finance Minister Felix Mutati said the Government was working at putting in place regulations that provide a stable platform that would allow for economic growth.
Mr Mutati said Government would in the forthcoming budget embark on fiscal sustainability, tax compliance, address expenditure issues and rearrange capital projects.
The Minister was speaking in Washington DC when he met with investors on the sidelines of the World Bank/ International Monetary Fund (IMF) Annual Meetings in Washington DC.
This is contained in a statement issued by First Secretary for Press and Public Relations at Embassy of the Republic of Zambia Patricia Littiya today.
Mr Mutati said Government was aware that the measures would be tough in the short term adding that the benefits would be felt in the long term.
And the Finance Minister and his National Planning and Development counterpart Lucky Mulusa have held consultative meetings with stakeholders.
Mr Mutati met with Deputy Assistant Secretary Eric Meyer in a closed door meeting. The two discussed among other things the enhancing of bilateral cooperation in financing and investments.
Mr Mulusa and Mr Mutati also met with other stakeholders including Barclays Bank, Citibank, the Saudi Fund and the Woodrow Wilson International center for scholars- Africa program.
The two ministers were later in the day expected to attend the JP Morgan Investor Seminar.
The Zambian delegation includes Ministry of Finance Permanent Secretary Dr Ronald Simwinga, Ministry of National Planning Permanent Secretary Dr Sr Auxilia Ponga, and Bank of Zambia Governor Dr Denny Kalyalya.
This robotic man is only good at making statements that everyone knows. We are tired of hearing your empty thoughts on how things should be. Please put into action your words. This man is proving me right when I said he was just hot air with no substance. Imf will school this young boy. The only ones to suffer are innocent Zambians
Zambia 2016: A failed state of beggers.
Zambia has the capacity to stand proud as a free and economical state but ONLY lacks a good driver to drive the economy and good governance.
NEZ, u are full of hot air.. u just talk talk.. no constructive criticism. Even areas u not much familiar with but just because u have internet and can read without reasoning u talk talk.. what is ur expect comment on the matter.. some people here just come to talk crap without reasoning and that’s not the way to discuss issues constructively. No wonder u are economically poor many Zambians. We never give credit where it’s due or constructive criticism but just critical without basis. Politically Trigger Happy! Always want to politic every issue. Anyway maybe it’s because of the way u brought up or maybe it’s just that zambia’s democracy still at an infant stage. Please comment where u know much about the area of topic! If u don’t just sit and read while people give opinions in the…
@AEI: you are full of crap! Why do you cry for constructive criticism as if it’s your birthright when you were dancing Dununa Reverse as your campaign strategy? Prove the benefits of your campaign promises. You rigged your way into govt – NOW DELIVER instead of whinging. The opposition cannot run govt for you.
Mutati is talking too much at the risk of self contradiction he was in the other article cited has having said that subsidy removal and such socially impacting measures will be applied over a long period of time probably over 5 years ….now he is cited saying.. Mr Mutati said Government was aware that the measures would be tough in the short term adding that the benefits would be felt in the long term….really??? Given the deficit, external and domestic borrowing nonsense we are in not to mention an almost non existent import cover how does he propose to pragmatically balance this act?
Support Goveriment policies and help rebuild the economy. Tekula bwatauka fye on LT!
I can see you are not good at economic commentary. Your political skewed brains lack fundamental economic awareness thus heavy and out of proportion criticism. Mutati is doing great. No country is an island in this internationally jammed economies. W Good ith your copper’s under performance, a highly analysed and negotiated bail out is a way to go. Mutati has to yap to get us that much needed funding. work Felix.
@Buck Teeth Lungu.. there u go again politically trigger happy. I am not PF or nor do I belong to any party. I thought the two top runners of the past elections Lungu and HH were both not so good but unfortunately that’s what was on the table. HH I thought would be good for the economy on paper considering his business knowledge and educational back ground but leadership wise I was not so sure (as he has proved me right after the elections). Now with Lungu I thought he connected well with people than HH & it seems the Zambian people gave a chance. Anyway your blogging name says it all so just leave it there enjoy the rest of ur day my brother..
I see only evidence of a man who not only lacks the ability to think analytically but disdains the very notion of it.
Expecting PF to bring macroeconomic stability is like praying for Chagwa to stop being a Chakolwa. Miracles do happen but not that one.
GBM.(GBV) and hh would have just insulted and paintedo Zambia in the worst possible picture… no thinking and care about Zambia and Zambians just about themselves. I am glad HH keeps losing
@ Hakainde
Congratulations. You are recipient of the Golden 1mbecile of the year.
Do you 1mbecile realize that begging IMF for bailout is not achievement but acknowledgment of absolute incompetence?
Since HH is not running govt, your hallucinations show your mental limitations. Why not urge your incompetent champion to run govt in dununa reverse style like be campaigned for? That way Zambians will be careful about liars in the future.
(HH) wanted to become president. He had no ideas for the economy. A 10 point plan on an A4 piece of toilet paper. Who was his proposed Minister of Finance?
All he could think of was GBV for Running mate.
Why is GBM delaying in reporting the unnatural act of sodomy which he suffered at the hands of Hakainde on Wednesday night?
And because of PF “economical wisdom” we are now in a mess forced to beg in order to save what is left of the once growing economy?
Just admit it. PF ruined Zambia. That’s why we need bailouts. Your hallucinations about HH are just that. He is not the one in State House; he is not the one who has brought Zambia to her knees.
Our hope is on Mutati do the right thing for mother Zambia
Like he did with his brother during privatization during Chiluba regime?
When are we going to see action not empty rhetoric?The visionless leader at statehouse will carry on with his standard job of appointing friends and swearing in ceremonies for years to come instead of cutting down his dysfunctional and out of touch bloated government. My free of charge advice is that he could use the savings from cutting down government on capital projects like maintaining schools and improving sewerage and water supply systems which cannot the demand. By so doing ,disease like cholera will be reduced .
When are we going to see action not empty rhetoric?The visionless leader at statehouse will carry on with his standard job of appointing friends and swearing in ceremonies for years to come instead of cutting down his dysfunctional and out of touch bloated government. My free of charge advice is that he could use the savings from cutting down government on capital projects like maintaining schools and improving sewerage and water supply systems which cannot meet the demand. By so doing ,disease like cholera e.t.c will be reduced .
Mutati is talking too much at the risk of self contradiction he was in the other article cited has having said that subsidy removal and such socially impacting measures will be applied over a long period of time probably over 5 years ….now he is cited saying.. Mr Mutati said Government was aware that the measures would be tough in the short term adding that the benefits would be felt in the long term….really??? Given the deficit, external and domestic borrowing nonsense we are in not to mention an almost non existent import cover how does he propose to pragmatically balance this act?
Kandeta needs to start managing communication from this guy to the public! Seriously he can just be left to keep confusing us
Kudos ni chipuba
Mutati is a waste of space
The point everybody seems to be missing is that Zambia is not the only country struggling. There is no quick fix to any of this. Look at Nigeria who need a $10-15BN cash injection, South Africa whose rating is now junk with Zumas and current finance ministers woes. The only part of Africa that’s growing is E.Africa at a rate above 4%.
What you do not say is those countries have a healthy export and industrial Base even if they need cash injections while you in zambia can not even make a spoon
Every thing is imported.
So imwe ba UPND, you will continue ukubwatukafye for the next five years? Or until HH is locked up for a few years?
HH is a big tax payer. You lock him up then more burden to Zambian economy.
Comment:HH for president nankwe nankwe
Comment: I think the point of depature from this criticism would be to highly criticise those that are vilifying the Finance Minister. Let us have substantiated debate rather than blame each other. I would like to see a situation were these elements who are highly critical of the government dispense economic solutions
Weedy Banda, so what will Lungu and Mutati be doing to earn their huge salaries and allowances? While others are doing their job for them with no pay?
Is this how you expect a Country to be run?
These guys said they knew how to do the job, vote for me! Now we find out they are clueless clowns that have no idea, and are destroying Zambia with their ignorance, incompetence and theft!
Be serious!
Weddy-so u think your Lungu is a man who litsens?PF under the helm of visionless Lungu have led us into this mess-With debt portfolio at 10billion US$ & gud chunk that went into their pockets-i can only say let your leaders consult their demons that make them perpetuate evil undemocratic practices-& as a matter of fact, did they seek anyone’s advice when they were borrowing in a careless & reckless manner?For some of us,we don’t think that we have a government in place
Comment: very much happy for your effort you making to stabilise the economic.
Comment: Country men and women the time of politic ng is over let’s now discuss developmental issues. HH is a very good leader by accepting the defeat for the fourth time by always emaging second in defeat indeed he has got the spirit of running this country on of these fine times to come. Mr. HH please do not loose hope I can see you leading this country to a prosperity please hold it patiently . God bless you and the republic.
Where are the investor’s we were told will come once we pay for the most expensive roads in the world ?
Do you know any investor willing to invest in a country where rule of law has become open auction for highest bidder?
What you also fail to point out is Nigeria imports stand at 70%. We as a continent now are struggling as our $ denominated debt is high. Zambia has depended heavily on copper for forex, a price that has never been set and have no reserve. So Zambia can hope for diversification but you need expertise for that. Zambian Boma rarely hires people who know more than them. For that reason our Fin Minister can speak but with no real plan, investors don’t come on a whim.
Only place where people insult themselves – ZAMBIA. Zambians are stupid, Zambians are foolish. Zambians are this or that. And the person who is writing is also a Zambian. If Zambians are whatever the writer says they, he is also that very thing because he is Zambian. Why can’t people comment without insulting the whole nation and themselves included. Please stop insulting everyone and yourselves.