Finance Minister Alexander Chikwanda has urged Zambians to brace themselves for the economic challenges.
Mr. Chikwanda says the current economic slump being faced by the Euro zone has the potential to spread to Africa, a situation he says will be unfortunate.
He has charged that the Euro zone accounts for more than 30 percent of the world trade adding that the ongoing Euro zone crisis is likely to spread.
Meanwhile, Mr. Chikwanda has observed that the macroeconomic fundamentals in the country are working.
Mr. Chikwanda has however warned against complacency in doubling the pace of the country’s economic development.
The finance minister has since called for more vigorous actions by government departments to ensure that the positive achievements being recorded in the economy are sustained.
QFM
get to work and implement policies Mr chikwanda.stop man hunting huh!grow up
The Reporter, he can work but certain effects will still have an impact on our economy!!
The Reporter, which is the man-hunting part??
this is working !
Ah! Ichachine ka……..
Oh dear! I have heard that one before in the 70s and 80s. Are we back to kk’s unip era of belt tightening and lights at the end of the tunnel? The more things change the more the remain the same!
“During my lifetime I have dedicated myself to this struggle of the African people. I have fought against white domination, and I have fought against black domination. I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities.” – Nelson Mandela
These are the kind of things our people need to learn and appreciate
Keep spreading the wise words mwana,,
Your words are so refreshing and assuring
Let us not attribute all our economic challenges on international trade. Zambia has the capacity and the resiliancy to float above such challenges with the right economic and social policies. Governmnet, get to work, most countries in the Euro Zone are doing exceptionally well and you in Africa, you are busy citing Euro Zone for your failure to articulate the right economic and social direction for the country. Let Europeans worry about the Euro Zone, meanwhile get to work!
Sebele, maybe you can help by articulating some of the things that should be considered in those policies. You seem to know what needs to be done, so don’t just criticize. Make suggestions, or else we’ll label you an alarmist.
I think Sata and Chikwanda have now realized that running a country is not as simple as they thought. The MMD saw us through a much big global economic crisis, Zambia and much of Africa were shielded, now how wil the Euro Zone crisis affect us now. Just admit that you are failing to run the country. The Kwacha has lost so much value and im very sure that inflation is now in double digits.
The observation made by the mininster of finace and national planning does not any way talk about the simplicity or failure of running our country,but stresses the foreseeable challenges lying ahead with the finacial hiccups choking most of these euro zone member states.if we choose to trivialise this concern raised by our minister,then we are a people of very small minds. The kwacha bearish trend can also be attributed to the reduced trade between zambia and most euro zone countries,honestly who would dispute with these present realities.
Big economies i.e united states,germany and china measure the performance of there economic growth by how much exports or trade being made globally,resulting into an inflow of large sums of cash thus allowing for creation of more sustainable jobs both in public and private sector.if we choose to review no.5 is comment, he/she may be right within a confined understading to analyse the euro zone problems with a non-factual approach and unreasearched pieces of sacanty information meant to mislead most bloggers.We are all floating in the same global waters,so what ever affects the euro zone affects zambia and the rest of the africa and the world.
CNP- Iam verry sory to all of you Zambians for putting these incompetent people in government kk told us that Sata is just good to be in opposition not a leader AMA guys aba PF balefilufyanya
4years more to go is just too long
I remember that when RB said that the Zambian economy had done well in spite of the global slow down many PF economists said that the Zambian economy cannot be affected by the crisis because it does not depend on banking. No credit to RB, but now Sata’s PF want to use the same as an excuse!
hahahahaahha….yayayayayayaya..yaluka 90 days theory..
Another CNP this will see you being booted out of power in 2016.
RB came into power at the birth of global economic recession, he never cried for sympathy but with his robust team they developed resilient economic/financial strategies. Zambia and Ghana were the two countries with less bruises after the world was involved in global economic accident. PF government please show leadership and instill confidence.
It means they are busy stealing and enriching themselves while you brace for these hard times
The author of this article is 100% correct he is sharing the frustrations of the many million Zambians . PF must admit to Zambians that they were duped . All those denying this are just not being sincere and are being economical with the trueth. Inflation is now in double digit , kwacha has divide nose down. If I may ask what achievements to date has PF recorded. This is the question PF can’t answer even on this forum no one will give me a factual and evidence based answer. PF stop living in denial namufilufyanya ifiintu dollar na ipena
RB ni muntu lomba aba bewelamo lomba nivimbwi vosaziba navo chita! How can you start blaming the Euro zone crisis which is still being played out so it is impossible to predict what its ramifications will be?
Chikwanda and African leaders shud change their total dependance on the west-Hypocrites. In the west ,UK Nationalised Lloyds Bank they call it bail out,in Zambia is nationalization. This week, Bank of England is soon dishing cash in the system to caution the Euro crisis &kick start lending and production in Zambia that’s a recipe for inflation,Alex think hard for solutions man!!, MMD sailed in the storm well under Caleb-Musokotwane,not bad idea hiring them as consultants and pay thru yo noise under patriotism! Learn that:all african leaders must rethink on the meaning of true independence- Leaders must CHANGE THE EDUCATION SYSTEM to aim at being own African inventors,manufacturers and producers of our own products from guns,ammunition, food both processed &unprocessed, clothing, water etc
Preach that good truth brother preach.
“The finance minister has since called for more vigorous actions by government departments to ensure that the positive achievements being recorded in the economy are sustained”. The acting president just fell short of thanking RB and MMD for the good economic foundation. Well understood, you can’t lay an economic foundation in 90 days or even 9 months but you can inherit one instantly. So I will say it for Mr Chikwanda: Thank you very much RB, epashili paku lekelesha!
Bogging without facts and out of hatred. So far the above except one or two are just making noise like empty tins. How can you say Zambia was not affected during the world economic crisis. have you forgotten that most Chinese mines closed and laid off alot of workers? Which continent does Zambia trade with, is it not Europe where we are sending copper, Sugar, flowers etc? who determine copper prices? Is it not the London metal exchange?
NEXT TIME CAST YOUR VOTES WISELY.AS FOR NW AM SICK OF THESE COMPLAINTS COZ U KNW SATA WHO HE IS
They have eyes but cant see. They choose not to see. I think it is only one really sick that can be praising RB today. Do you remember that he promised not to sign for his salary hike and that of ministers, just till his election passed? The first week as president he signed (Broke promise No 1) for his salary. Shortly after that, nurses went on strike for 37 days, the Chansa Kabwela saga of woman giving birth near bus stop, then RB told nurses if they were not happy, why did they become nurses? Zambians you forget so easily. The truth of the matter is Sata is better than RB. Period. RB was a proper Chimbwi no plan, the presidency just landed on his plate due to Levy’s death. Sata has been wanting to be president since 2001 when he got one MP. Surely the guy had a plan. Give MCS chance!
Hear you boss
But forgive some tribalist fools all they await is Our president to fail,, it will never happen
HE MCS will each what he was born to do serve and save our beloved country
Let’s support our govt
@ 19 Tonga Chimbwi. Well Put. Bloggers are just nostalgic and forget easily. The cannot think with their brain but choose to feel with their hearts. If RB had won the election there would be serious instabilty in Zambia today arising out of corruption.Zamrel would ben firmly in the hands of Libyans and Zesco would probably be on sale by Dora & Henry Banda cronies to some dodgy ” foreign infestors”. Seriously we would now be tinkering on the verge of military coup or some instability of the sort.
CBDs do not even read or understand whta the minister is talking about. Just to simplify a lilltle for you good for nothing critics, the effects of the Euro zone crisis can reach Africa and affect every economy. A little night school can change your warped thinking. Don’t just react to everything and expose your ignorance publicly like that. We know where you hail from.
Oh by the way. CBDs are Careless Barking Dogs that insult the Presidency
I recall the then MMD minister of finance Magande saying Zambia would not be affected by the credit crunch (precursor to the recession of 2008/2009) as it had not invested in toxic assests. A few months down the road copper prices plummeted, exchange rate skyrocketed, Luanshya mine closed, chambishi closed and glencore was threatening to pull out of Nkana and Mufulira mines. Contractors lost contracts and peole lost jobs in the thousands. Chikwanda is talking sense and if you can pick his advice and prepare for the rainy day for your company/institution or yourself the better. Bury your head in the sand and you wont know what hit you when crunch time arrives
we are a product of mismanaged economies before so we are paranoid enough to manage all downturns you and chikwanda under estimate the resilience of people and companies focus on were you can be more effective rather than fear mongering.companies operating in zambia are as aware of the situation in europe and the world as chikwwanda is if not more.His economic theories are outdated and tainted by the invisible hand
zambia in micro and macro economic problems. The result is that people will rise against govt for they do not understand Economic Euraism in oriental trade. Our economic Mr Minister is nose diving and the moment Brettonwood institution come to our aid then we will be done as a people. Introduction of SAP will be eminent. There is need to provide local economic safety nets and the earlier the better. Some of us can help at no cost at all to do some write-ups for Micro-projects that should be entirely community based.
Interesting observations, sad tho this Euro crisis in the context of economic orental trade esp for zambia should have been understood,by Alex better in view of the Oil crisis in the 70s. Conspiracy theories of destabilizing economies of developing nations abound aimed at control (neo-colonialism).Like the Jews said,NEVER AGAIN (During the holocaust),Chikwanda-Kaunda&all african leaders Should have also declared,Never again! Shall we be “deeply”dependent on colonialists for everything (CONSUMER states instead OF PRODUCER STATES) with inter africa deeply entranched trade ,with the south to south and east connectors. After the 70s africa and Zambia,Wud have been another tiger economy. Now with the heavy china presence&fear,the Euro crisis is well calculated for AFRO-control
I really don’t see an sense in what Chikwanda is saying. He is talking about Zambians bracing themselves for challenges and then one side he is talking about economic fundamentals working. Please don’t jump to the Euro crisis without identifying the real connection. The PF has managed to dis stabilize our economy in their first 90 days. In 90 days you managed to disturb governance structure firing credible professionals in key government institutions and parastatals. We have a rebasing thats not justified considering the cost, Zamtel and Zanaco attempted repossession, self inflicted fuel disruptions and blatant poor planning. This will be the cause of any challenges not europe.
I visited the so called Zambia watchdog, I was surprised to note that they don’t publish any ant HH coments. How can you elevate someone to a leadership position without criticism? I now see why UPND has been loosing. What I found there are coments from the same Tongas who frequent the blogg and they keep on cheating each other. I tried to post four coments using the same name I am using here but non of them where shown becoz they where against UPND.
I decided not to go back.They can continue cheating each other.
@Bwendo 20&21
We know who these Careless Barking Dogs are and where they are from , but they shall not distract us,,
Let us give credit where it’s due,, Hon Chikwanda is stating facts but the CBS won’t want the truth ,
But remember a fact is a fact not even their Biggest CBD can alter that! FACT IS FACT
The father of all CBD is HH.hahahahahahahha
Mr chikwanda should not worry about the resilience of his fellow citizens, he has been responsible for taking us to HELL and back he was the finance minister in the seventies and here we are today.So he should be doing whatever he can to manage the situation instead of spending time trying to fore warn citizens of impending hardships.
Life is full of challenges. Its better to be optimistic than gloomy. Leaders should inspire and give hope. Tell us what the government will put in place as shock absorbers when your professy of doom comes to fruition.
Ba Alex Chikwanda, you were a youth leader, with the Nyondos and Sefelino Mulengas may their souls rest in peace, during the struggle for independence. You have done very well for yourself. I can’t help myself from thinking that all of you politicians of yesterday had a proper agenda for yourselves and not for everybody. Warning the nation about what would happen when the Euro fails is not good enough. What are you going to do about it? Building Fred Titus Mpundu’s and Rupiah Banda’s houses in Lusaka is not the good way forward when ordinary people are starving. Paying sararies of constitutional pensioners who contributed nothing to the economy let alone to the pension scheme at the expense of ordinary starving Zambians is criminal.
Mr Chikwanda, Where were you when the Euro crisis began? Have you just woken up? When you were promising putting money in people’s pockets within 90 days, were you not aware that the Euro crisis was already spreading to Africa? Myopia? Shaaaa!!! It appears the Euro crisis is becoming a scapegoat for lack of a sense of direction of this Govt. Perhaps we should have left the RB Govt in power, as they demonstrated knowledge of what they were doing, until the Euro crisis ended before bringing in this bunch of….
Good aternoon
True that the Eurozone crisis may affect us too but like #25 mortgage phiri has already pointed out, I also feel that it is more important for the minister to demonstrate confidence in our economy and our ability to handle any crisis.
We have to stop talking about development as determined to us by the West. We have to start setting our own standards of progress from a continental perspective.
Fact is that the EU and other strong economies will always face challenges but we cannot let this play on our peoples’ fears forever. We need to realise that we are on an entirely diferent economic level. The best we can do is to show the world that despite what they see or hear about Africa in the populist media, Zambia is a safe place of investment.
Times have changed habana Chikwanda. Economics of yesterday are out dated. We need young and fresh minds in the ministries. You guys are suppose to be settled in farms.
@34 Technology has certainly changed but economics and Adam Smith’s invisible hand still remains fact/true. I wonder which books you read. The so called young brains are just opportunistic THIEVES with inflated egos in businessmens suits.
PF is a party of chimbwi’s with no plan. They have not told the nation what their plan is, 6 months into their government. They have continued to line up at the airport to worship their master whenever he travels. They have continued to suppress the media. Post, Daily mail, Times, ZNBC are all government controlled. There is no alternative media. They continue to use the police to brutalize the masses. They continue to rig elections. How can one support such a bunch of nonsense. The only answer is that PF supporters are Bemba Kolwestans who are loyal to their tribe.
Iwe chimbwi dont make excuses just deliver. *****.
# 4 Nine Chabe……….it is an ideal which we have to defend and guard jelously in Zambia, if need be, it is an ideal with which we should be prepared to die defending.
There we are CNP!
Dictatorship naturally arises out of democracy: the most aggravated form of tyranny & slavery out of the most extreme liberty. Plato
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” and “Those who are too smart to engage in politics are punished by being governed by those who are dumber.” Plato
The current economic downturn in Europe is affecting every country USA, Britain, France, China and German. However, it is worth to note that German has benefited from the Euro compared to any country and that’s why her reserve is better. Britain is put Billions of pounds back into the economy for kick starting why its hot here. As long as manufacturing industries are not buying materials from Africa, there is no doubt that Zambia is exceptional for financial crisis. Its only people with little knowldledge making crueless comments as if they are bush products looking after cattles. Spain has no money, the third largest economic country in Europe.Greece on her knees, people there are starving . Its important to inform the nation before hand. You cant mix hatred and class.
Today, Senior Citizen can even differentiate Dictatorship from democracy aaaaaaaaaaaaaah. My ribs are cracking, I need my Militia Mbuya Telekele Banda FORMER MMD LUSAKA PROVINCIAL CHAIRMAN now the UPND annointed one.to bring sticks for wiping cows in my new foundland of NGOMBE ILANDE.
# 13 Octopus Paul Bwalya. Your obs are spot on but most PF members and their supporters do not want to hear these had facts. Economic situation needs to be handled proffessionally with decency. Currently, there is over optimism carried on from promises during the elections campaigns and truth is dawning slowly that a more complicated economic challenge phase awaits beyond winning an election. The road map to tackle this challenge is absent and that has brought negative scepticism from the majority Zambians. To hear polititians calling for donor aid and other charitable assistance to our country is not only laughable but underpins how PF govt has run out of ideas. Eurozone is under intense stress to help others, we need home grown solutions by first admittng errors made and seek solutions.
@34 Technology has certainly changed but economics and Adam Smith’s invisible hand still remains fact/true. I wonder which books you read. The so called young brains are just opportunistic THIEVES with inflated egos in businessmens suits. chikwanad has stated that the PF will continue wit the 6th NDP with a few tweaks. What more policy annoucement do yo want? That PF will trash all that MMD did like FTJ did wit UNIP programmes? The old men in PF are much wiser than the young the then young FTJ!
# 32, Please don’t RB as if he had anything to offer other than serving Chiluba and his ideas. Of the 4 passed Presidents RB was the most useless, no wonder and thank God he only served for three years, otherwise we should have been in deep trouble especially that he left his children to plunder the economy.
Another baboons who has just woken up to the fact that the Euro crisis is real
To use your own language, the Ng’ombe/cow before never even woke to realise that that the credit crunch of 2008 was real!
@ 46 Engineer Australia. To use your own language, the Ng’ombe/cow before never even woke up to realise that the credit crunch of 2008 was real!
Achievements recorded by the previous government must be sustained, we all know that the current regime has only been working for themselves, their relatives and tribesmen.We have seen our kwacha slide to it’s lowest in the history of this country.
is this kolwestan on ART..?
@ kwekwe,
just admit noko michanga muli soawe that people are
hungry with CNP. it’s too early for him to undrtake such a barrage of discent. ukwa wont last because by
the second year people will be very hungry and no amount of intimidation will stop them,kaunda his mentor knows.
problem again ukwa is not strong like levy or RB were
he would want to reply to any nonsense.in.the end he
is start getting ideas from mugabe and mengistu on how to quell public discent and that will be his undoing, he’ll the country after killingva few people
the post newspaper will be burnt down
The PLAN is to wean Zambians slowly from the excessive hope of our ’90 days’ day dream. The hope is that such utterances will make them forget the styupid promises we made. We are equally shocked at how people foooolishly beleived us.
even without euro zone crisis most zambians are already strugling economically. prices of goods r increaing everyday, allowances have been knocked frm payslips etc. where is this govt taking us?
FROM A HORSES MOUTH.
I raise Mwanawasa and Mangande for Zambia’s economic resiliency. If only this Chikwanda can humble himself, as God to trim his ego and seek mangande’s advice.
viva rb viva
sata has failed period. you can’t compare RBs achievements under difficulty conditions with these *****s
thats not good news,get ready for more suffering
hope they can focus on economy more than man
hunting,
CNP
Chikwanda, again in the news. Talking Under the Influence of Whisky.
the govt must do something, because this will not be understood by the people from the ground. pliz find a solution to this problem.
Waste of space are these chaps.
CHIMBWI NO PLAN..!
Ba Chikwanda elyo ilyanshi twatampile ukufwa muli ba Kaunda na lelo brace yourselves for economic challenges echo balandila ati chi……. no plan.
It is sad to hear a Finance Minister speak with no policy direction in his address. What is wrong with this govt, for once can you at least share how you intend to cushion the effects of the Euro Zone fall out? What is it that you are doing to improve on the macroeconomic indicators through the lined up programs so people can measure progress. So far it is like any progress is okay since you have no banchmarks for people to measure you by. This is leading others in the dark yet you claim to see the way. PF pls start behaving as a govt in power, pls. People have resorted into stealing from our homes all in the name of putting food on their tables whatelse do you want them to do?
It is nauseating to hear all these MMD cadres complaining about what the PF hasn’t done within a year.
Being in opposition doesn’t mean you just oppose the other party. It means you put forward rival strategies and policies that THE PEOPLE can choose between.
Everything else is an insult to the democratic process.