Finance Minister Dr BWALYA NG'ANDU addressing  investors from North America, South America, Europe, Middle-East and Asia, at an Investors Forum held at the Hay Adams Hotel in Washington DC, USA
Finance Minister Dr BWALYA NG’ANDU addressing investors from North America, South America, Europe, Middle-East and Asia, at an Investors Forum held at the Hay Adams Hotel in Washington DC, USA

The Zambian Government is on course with the economic reform and transformation agenda despite the country’s power supply and fiscal space constraints, Finance Minister Dr BWALYA NG’ANDU has said.

Making a presentation to Zambia’s financial asset investors on the sidelines of the 2019 Annual Meetings of the International Monetary Fund (IMF) and the World Bank, the Minister took the opportunity to share an in-depth perspective on the state of the economy; the 2020 Budget; and the medium term debt strategy.

During the presentation, the Minister highlighted the strides that the country has made in its development efforts through measures targeted at addressing some external, internal and natural vulnerabilities being faced.

Dr Ng’andu discussed issues ranging from growth, fiscal adjustment, investment flows, debt and Zambia’s financing plans going forward.

“In the last eight months, revenue collections were 9.9 percent above the budget target for the period,” he said in reference to resource mobilisation efforts.

The Minister also clarified that the upward movement of the external debt figure over the last few fiscal quarters mainly reflects new disbursements from already contracted and existing loans.

Among the assurances sought by the investors was Zambia’s plans related to the current Eurobonds, asset monetization, fiscal adjustment and the commitment to the achievement of macro-economic targets.

The Government is in the process of developing a Eurobond refinancing strategy which, once Cabinet approves, will be published, the said to the investor’s audience.

Dr Ng’andu also added that the dismantling of domestic arrears remains a priority that will be implemented to the latter in 2020 and beyond.

The Minister was accompanied to the Investors Forum by Secretary to the Treasury FREDSON YAMBA, Ministry of Finance Permanent Secretary (Economic Management and Finance) MUKULI CHIKUBA and Bank of Zambia Director (Economics) Dr Jonathan Chipili.

 Finance Minister Dr BWALYA NG'ANDU addressing  investors from North America, South America, Europe, Middle-East and Asia, at an Investors Forum held at the Hay Adams Hotel in Washington DC, USA
Finance Minister Dr BWALYA NG’ANDU addressing investors from North America, South America, Europe, Middle-East and Asia, at an Investors Forum held at the Hay Adams Hotel in Washington DC, USA
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11 COMMENTS

  1. It very embarrassing to assure the “investors” tht our govt is on course whn or since they started ruling this country, they only thought of themselves than than nation. But whn seeing tht they hv run out of time, that when they are on course. It’s too late to recover with this govt, you talk is rubbish ad no one will believe such lies. How will this economy be on course whn you hv months to b in power. Just shut up ad eat the leftovers ba minister. Your govt is not for the people but foreigners ad yourselves in govt. This is your last term, bye!!

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  2. He should also assure them of the rule of law, corruption and lack of foresight by the govt. Tell them also that Lungu will not do a “ubomba mwila alya mwibala” operation on borrowed dollars.

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  3. “Bloomberg Businessweek helps global leaders stay ahead with insights and in-depth analysis on the people, companies, events, and trends.”
    “Zambia’s $515 Million Mystery Revenue Raises Budget Questions”
    “Zambian Finance Minister Bwalya Ng’andu plans to obtain almost 10% of the southern African nation’s total income next year from undisclosed sources, raising concerns about the accuracy and sustainability of government spending plans for 2020.” -Bloomberg.

    Zambia stock market as being stagnant.

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  4. Ngandu scaring away investors by talking about debt, who wants to invest in a country deep in debt. Also tax collection is going to scare them even more. That is something that should be relayed to taxpayers, those are not taxpayers for you to be telling them how much was collected. You are supposed to talk about your policies that will help those investors recoup their monies. You should have copied HH’s speech and just refined or re-enforced it than this jibberish no wonder there is no mention of any pledge. This thing is all over the place with nothing specific for the investor.

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  5. What can the poor soul do naimwe. He was directed to read a script. You can see the incomprehensible PF touch all over the so called “presentation.

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  6. “The government is in the process of developing a Eurobond refinancing strategy,which once Cabinet approves,will be published.”

    This is scary not only to investors but the country as well.Dr Ng’andu,are you telling us that all your predecessors from Chikwanda to Mwanakatwe never drafted any Eurobond refinancing strategy?If so,then thats why planning has been failing Zambia because,ideally you were suppose to avail investors of a workable refinancing strategy subject to being fine-tuned to avoid any possible default or a situation of debt distress.

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  7. This explains the rush that Sunny made to go and solicit for so called funds. Since he is not in Govt he can only say that the funds would come only when Govt in Zambia is changed (2026) Kutali indalama shaba HH ninshi shalibola. KiKIKIKIKIKI. It is dificulty to be a losing opposition leader with such high appetite for state house.

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  8. HH is in a rush and so desperate that he’s even deceiving innocent Zambians of fake investment in a bid to be voted into power, even shunning away from National Day of prayer, Forgetting that he wants to be the President of a Christian nation. As ALANGIZI BA CHITUKUKO we totally desagree with his night mare investments.

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