Sunday, July 14, 2024

Former BoZ Governor Denny Kalyalya lands top World Bank post


Donor and borrower country representatives of the International Development Association (IDA) have selected Zambia’s Dr. Denny Kalyalya as the Independent Co-Chair of IDA’s twentieth replenishment (IDA20), which will launch later this month.

In this role, Dr. Kalyalya will champion stronger policy and financial support for IDA20 at political and other stakeholder levels across IDA donor and borrower countries.

Dr. Kalyalya will co-chair the IDA20 Replenishment process with Axel van Trotsenburg, the World Bank’s Managing Director of Operations.

Since IDA18, IDA replenishment meetings have had two co-chairs, comprising an independent eminent personality with adequate knowledge of Multilateral Development Banks, and a high-level representative of the World Bank Group appointed by the President of the institution.

An economist, Dr. Kalyalya has experience at the World Bank Group having served as an Executive Director from 2012 to 2014 and as an Alternate Executive Director from 2010 to 2012, representing Africa Group One Constituency of 22 countries.

Until December 2019, he also served as a Borrower Representative for IDA18 and IDA19.

Since June 2019, he has been serving as a Non-Executive Director on the Board of the African Export and Import Bank.

A Zambian national, Dr. Kalyalya’s experience includes serving as the Governor and the Chairman of the Board of Directors of the Bank of Zambia between 2015 and 2020, having earlier been Deputy Governor responsible for operations.

He has also served on a number of high-level, national, regional and international committees.

Dr. Kalyalya holds a PhD (Economics) and an MA (Economics) from the University of Massachusetts Amherst.

He also holds an MA and a BA (Economics) from the University of Zambia.


In February 2021, IDA donor and borrower country representatives agreed to advance IDA20 by one year, and shorten the IDA19 cycle to two years, due to pressures from the COVID-19 crisis. IDA19 will now cover July 2020 – June 2022, while IDA20 will cover July 2022 – June 2025.

The IDA20 replenishment process presents an opportunity to focus on building back better from the crisis and enhancing the existing IDA policy framework to support the transition to a green, resilient, and inclusive future. Replenishment discussions and negotiations for IDA20 will run from April to December 2021.

IDA is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries.

IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world.

Since 1960, IDA has provided about $422 billion for investments in 114 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity in the world’s poorest countries.


  1. “A prophet is without honor among his own” many we know of this saying and its wisdom we have times without number experienced! It makes one wonder if the leadership in Zambia lacks intelligence to discover and appreciate in its citizens the skills that other’s do! It gives one a lot of thought too why Zambians that have made a mark elsewhere are reluctant to come home to “contribute” to national development!
    All the best to Dr. Kalyalya on his new appointment, he deserves it, its a pride to all in the diaspora that are working hard!

  2. Congratulations and well deserved on your new appointment playing a more crucial role on the world stage. Its unfortunate PF regime could not find value in Dr Kalyalya’s immense economic management to Zambia. This vindicates our opposition to unorthodox financial management employed by PF regime of printing money to suit PF cadre pompous splashing of money without its value.

  3. Congratulations to Denny. Many Zambians excel in their portfolios abroad which is an indication that our leadership and policies don’t support excellence and that’s our undoing

  4. So the next time Zambia goes begging for money they must contend with Kalyalya?

    Since ECL and Kalyalya are on the “opposite ends”, I wonder how successful such meetings would be?

    • The meetings would be very successful because Denny does not sink so low like some of the ministers or PF members who are relieved or fired by the president and saying that the president is corrupt or cursing Him. If they were men and women of the integrity they should have told the president when they were in government or PF Party. I do not know how this does to the Zambians, when one who called the president and it’s PF Party corrupt, go back to PF. This to me means he/she was lying or want to go and partake in corruption. Most of those who have returned to PF are not sincere, but dangerous people to the nation and political parties. They act like Flip Flop. When they see PF doing well they turn to PF. When they see UPND doing well they turn to it. Dr. Kalyalya is a professional,…

  5. Ironically he will be attending to those with begging bowls. When your deputy becomes your boss, then your former boss comes with a begging bowl. Such is life.

  6. Danny refused to followe lungus chawama tarven economics ……….

    and got accused of supporting UPND.

    He is on record refusing to deplete the forign reserves…..

  7. This is very good for Zambia we have someone at world bank. Given the fact that Zambia fired Kalyalya, is a blessing in disguise because our Govt will work very hard not to depend on these external financial institutions but concentrate on generating our own financial resources from our own riches. Africa’s biggest weakness has been that we don’t look for solutions in our own countries we always believe that someone else has the solution. A typical example is the current situation where Hakainde Sammy Chintombwa has written to both AU and SADC complaining about the voter registration. When ECZ was announcing registration exercise Hakainde was busy with other things. Ghost voters on 2016 voters register will not appear there now because they have been weeded out. The false popularity of…

  8. Good riddance. He was a puppet of the west before he became governor and so he has just gone back to his masters. Ia that what you call an achievement? It’s like me going back to the job I was doing when I was 20 years old and then people congratulating me hahaha.

    No one is irreplaceable when it comes to public office and serving your nation. If you have loyalty to a tribe and not your country then you won’t last. All the best in your imperialist future.

  9. Denny Kalyalya never applied to be BoZ governor. He was head-hunted. And whn those who thought he wwas a stumbling block to their goals decided to sack him, he packed his bags and took a beeline to private life where he minds his own business. Attempts to smear filth on him will not work.

  10. Congratulations Doctor Denny Kalyalya. Some blessings come disguised. Leaving BoZ was not the end of your lustrous career. Keep adding up to your professional reservoir. Receive more tributes and accolades sir.

  11. Good luck Dr kalyalya in your new
    Job.We are the losers as you have
    Found a better job as we have replaced yours with someone who
    Can please his master.

  12. Another Zambian talent scooped up who was ignored by the incompetent corrupt reckless govt of Lazy Lungu, meanwhile we are left with a a drunkard cadre as BOZ Governor….wonders never cease to amaze me. We have a dull President who wants to be surrounded by thieves and dull people as advisers.

  13. Tarino dont say we. You are not zambian you f00l. You lost your Zambian the day you took up British passport. Do not bring nonsense here.

  14. Ba fake Kaizer mukamba chani imwe? The PF failed to keep up with his advanced way of thinking and now those who appreciate it have welcomed him.
    Modern economies are not run based on just hearsay, they require critical thinking at each comma, full stop and bullet point. Unfortunately there is a lot laziness to do such in-depth critical analysis by those running the country and so they can’t even defend certain policies when they come under strict scrutiny.

  15. Tex mex, to you following western ideology is considered advancement. This is why the same masters you worship look down on you. There is nothing special about kalyalya. Just like the governor who came before him, he was hired to meet certain targets. The president has the responsibility to hire and fire anyone who he believes is not performing. I don’t want to get into the specific reasons this man was relieved from his position as we have moved on and are more Focussed on our country. To unpatriotic people like you upnd diasporans, being an employee of a western influenced organisation is considered success. To me working for my country is what I consider success. I am a patriot after all.

  16. Katai I have nothing against the man. To me there is nothing special about him getting a job like any other zambian. What I have a problem with is upnd supporters gloating over this and thinking this is a point against pf. We don’t really care what the man does. Is he going to give you part of his salary for being his cheerleader

  17. Dr DK was the only good thing going about the economy. Mvunga is a cadre and is not well experienced to be governor…And we know that he almost quit but was forced to stay on because he would have been blamed after PF lose the election. The entire PF admin needs to resign on moral grounds….they have failed period. If you want to say what failure looks like have a look at the PF.

  18. He is among the few principled men we have in Zambia.Congrats Dr.Kalyalya….Chakubaba iwe ndani iwe!!

  19. The most classic adage regarding trolling is, “Don’t feed the trolls.” Trolls seek out emotional responses and find provocation amusing, so replying to them or attempting to debate them will only make them troll more. By ignoring a troll completely, they will likely become frustrated and go somewhere else on the internet.

    You should try your best not to take anything trolls say seriously. No matter how poorly they behave, remember these people spend countless unproductive hours trying to make people mad. They’re not worth your time of day.

  20. Congratulations Dr. Kalyalya for this most deserving honour to you. You are surely a MAN who does not need men to approve of you, but God. You should be next to run the affairs of this country and put it in order.
    As a principled person, you will judge beggars according to their ability to manage borrowed funds and their ability to repay what they’ve borrowed. So I’m sure the next time you are presented with an empty beggars bowl from Zambia, you’ll treat it with the rigorous assessment it deserves. Congratulations once again.

  21. @4 You think Denny holds grudges like your HE HE, he’s a Zambian and will look at everything as a patriot who will never let a Zambian suffer , mind you he has relatives here. Idi0t.

  22. Congratulation Dr. Denny Kalyalya. I am proud of you as a Zambian for that top position. God bless you in your work.

  23. Now Finance Minister Dr. Bwalya Ng’andu can got with a big bowl to beg for alms on behalf of the “Umble” Leader. Surely somebody will eat Humble Pie.

  24. Congratulation on a well deserved position! You are an honest man. God always rewards his own…when one window opens a big door opens somewhere!

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site -

Subscribe now to keep reading and get access to the full archive.

Continue reading