POSITIVE OUTLOOK FOR THE ZAMBIAN ECONOMY HIGHLIGHTED BY HON. MARGARET MWANAKATWE’S ATTENDANCE OF THE 2018 ANNUAL MEETINGS OF THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK GROUP IN BALI

By Sunday Chilufya Chanda

Minister of Finance Hon. Margaret Mwanakatwe recently returned from a successful trip where she attended the 2018 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), which were held in Bali, Indonesia.

Mrs Mwanakatwe led a delegation from Zambia in various meetings, sessions and events of both the IMF and WBG.

The successful bilateral meetings with development partners, cordial business meetings and the investor forums which Hon Mwanakatwe had in Bali are signals that Zambia’s economic reform policies and programmes are of international market standard and will continue to attract quality stakeholder interest, both locally and in the international community.

The views of the Zambian Government resonate with the thoughts of its development partners that even though debt vulnerabilities over the last few years pose the risk of reversing the benefits of earlier debt relief initiatives, there is NO debt crisis.

As the Minister of Finance pointed out, over US$ 800 million this year has so far been paid in debt service and the Republic of Zambia has not registered any default.

If that were not so (as some ill-wishing opposition leaders would wish to happen) the investors in their Eurobonds and other financing facilities would have activated cross-default provisions in accordance with international debt market regulations.

If Zambia’s relationship with the WBG and IMF were sour (as per one bitter opposition leader's wishes) our Finance Minister would not have requested these cooperating partners, based on their respective mandates, to help Zambia in further strengthening the fiscal position by improving debt management capacity, increasing domestic resource mobilization and deepening local capital markets.

There are a number of credible local and international authorities that have presented the real positive picture of the country’s economy.

World Bank Country Economist Ziv Chinzara recently confirmed that Zambia is not in a debt crisis as purported in some sections of the media and as wished for by a certain opposition leader.

Economics Association of Zambia (EAZ) President Dr. Lubinda Habazoka has also repeatedly stated that Zambia is not in a debt crisis and like the World Bank Country Economist has guided, negative sentiments suggesting that Zambia is in a debt crisis are unhealthy.

However, unhealthy as it may be, it appears to be the staple of a few quarrelsome individuals.

These veterans of several election rejections wish ill on others and pray for negative things to happen to their country for the purpose of saving their nearly extinct political careers.

They frown and sneer at good news; while they rejoice and give each other high-fives at negativity in their quest to use it as political capital.

We wish to caution one particular brother in the opposition,that although politics can get heated, there are limits beyond which a person loses their humanity.

Desiring ill on others and wishing for the worst situations as well spreading negativity for the sake of manipulation, is said to be the spirit of witchcraft.

One particular Opposition Party must therefore change and stop the rumour mongering and spreading of falsehoods as their leader recently attempted in a Muvi TV interview.

The smear campaign by the UPND to paint the picture of an alleged debt crisis in Zambia is in reality an unfortunate reflection of the "dirt crisis" that haunts the mind and soul of this Party and it's leadership.

As the Apostle Paul wrote:

"Finally, brothers and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable--if anything is excellent or praiseworthy--think about such things."

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