THE Jesuit Centre for Theological Reflection (JCTR) says the reclassification of Zambia as a lower middle income country is commendable as it comes in the wake of improved macro-economic indicators, including sustained economic growth and improved credit rating.
JCTR social conditions programme manager Miniva Chibuye said in a statement issued in Lusaka yesterday that the reclassification is a good thing for the economy and more investors are likely to be attracted to Zambia.
Ms Chibuye said the major concern for the JCTR is that social development indicators are not improving at the same rate.
Ms Chibuye said the reclassification announced by the World Bank last week, is also marred with challenges in terms of accessing concessionary loans and development assistance, which are normally meant for low income countries.
She said the aspects must be firmly considered and planned for as they can potentially compromise the achievement of Millennium Development Goals (MDGs) including MDG one, on halving extreme poverty and eradicating hunger by the year 2015.
Ms Chibuye said it is important to improve socio-economic indicators and enhance access to income and basic household needs.
She said Government must continue to focus more on improving the human development indicators for the lower middle income status to be more meaningful to citizens.
She also said Government should find sustainable ways of raising domestic revenue to improve the lives of Zambians who are still poor.
The World Bank recently reclassified Zambia and Ghana as lower middle income countries, following the annual assessment of poor countries.
The Bank’s re-assessment is based on the value of a country’s GNI. This means that per capita income for the two countries is now above the low income countries’ threshold of $1,005.
Countries that are considered to be in the lower middle income category are those with GNI ranging from $1,006 to $3,975 per person per year while upper middle income countries have a per capita income ranging from $3,976 to $12,275.
[Zambia Daily Mail]
This is good news even for the Jesuits to acknowledge.Not what Sata keeps saying even though he is seeing progress.To all zambians in right mind and not the ones high on Tujilijili and dilusional I say congrats and keep it up.In Tonga they say ”Muntu uta lumbi Mubwa”!!!!!
Rubbish, the reclassification was due to high copper exports & the the prices are now very high. The world bank thinks the money come to Zambia when in reality we dont benifit from our copper.
The impacts are goog such that RB & fellows wont borrow enough money carelessly to waste on campagns. kaili shonse balalya!!!
Walala Wasala 2011. Sata is sick peroid. Zambians be careful when voting. Ive ready in Namakandos post on the cobras campaigns they are full of sweet nothings. Samba waiona.
Uselss statistics which do not mean much to the common man in Kaputa, shangombo or lundazi who is poor as ever.
Congratulations to MMD government.Its a success story.There are also weaknesses.Today I say congrats because its a success.Keep it up
Why for once can’t we just congratulate the people of Zambia for once. We made this happen.
This is good news for the investors who are sowing less but reaping more…..The common citizen will not realise anything as all the dollars from copper and tourism are in the hands of foreigners….I pity fellow zambian who are happy over this classification when there relatives in lundazi, shangombo,kaputa,mwense etc lokks like they are in a war tone country…Go to Bostwana and you will realise what low middle income is….zambians stop dreaming and live reality..I rest my case….
Wen $1006 per person per year is worked out into kwacha it’s alittle over k415000 per person per month. The same World Bank recommended reduction of employed pipo (retrenchments). Unions pressured all employers to consider minimum pay 4all so called domestic employees and were recently awarded k419000 per person per month. The reclassification does not show any relief or reduction against unemployent and poverty. It means job creation is lacking in the country it doesn’t matter how muh one can attract foreign companies. Let all zambians be ecnomically empowered.
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