Chairman of the Cooperating Partners Group – CPG, German Head of Development Cooperation Christoph Fritz has urged newly appointed Minister of Finance Dr. Bwalya Ngandu to continue with the country’s efforts towards acquisition of an IMF Supported Economic Programme in order to expand the financing options available to Zambia by way of support from other cooperating partners.
Speaking when Cooperating Partners Group – CPG paid a courtesy call on the finance Minister in Lusaka on June 23th 2019, Dr. Ng’andu said there is need for immediate action to push policy implementation as required by the country.
Finance Minister Bwalya Ng’andu says his job honeymoon is short as the terms of reference given to him by the Republican President to stabilize and grow the economy offer limited room for delay.
“Hard and smart work is beckoning, the need for action is immediate, my honeymoon is short and my Ministry will require your unfettered support to push policy implementation and get work done,” he told the CPG delegation.
Dr. Ng’andu however pledged to meet all the partners individually in order to reach common ground on areas that need attention in order to stimulate faster implementation of development programmes.
The Cooperating Partners have restated their commitment to support the implementation of the Seventh National Development Plan and the delegation has reaffirmed their support towards building a strong partnership with the Zambian Government.
Christoph Fritz on behalf of CPG further expressed emphasized the need for the Zambian Government to implement austerity measures as it is a very important message to the international community because it demonstrates the resolve of the authorities in taking corrective measures in the country’s progression towards fiscal health.
Among the other issues discussed in the courtesy meeting were debt management, financial governance, private sector development, value for money public investments, protection of social spending, and drought responsiveness.
Further, the cooperating partners listed the e-voucher programme and the economic stabilisation and growth reforms among the issues that need the closer attention of the Zambian Government.
Contributing to the proceedings, African Development Bank Country Manager Mary Monyau announced the banks approval of a support package that will help Zambia with capacity improvement in domestic resource mobilization and debt management.
Newly appointed Minister Dr. Ng’andu has taken a hot job and market players are eagerly waiting to see what new policy emphasis will be pursued more vigorously than the others. He is currently handling a delicate situation as market players line up to try to influence the policy direction.
Various international and local players are jostling to meet him to try and influence the country’s economic direction of policy in their respective interests and it remains to be seen which direction the new minister will tilt towards. He gave a hint at his swearing in that most policies are already there and its more the implementation that the availability of credible policies that is lacking.
