BINWELL MPUNDU
THE MUSOKOTWANE /KALYALYA ECONMICS ARE ANCIENT THEY WILL KILL THE LITTLE ECONOMY WE HAVE AT THE MOMENT.
Again ba Finance Minister Hon Musokotwane and Ba BOZ governor Ba Kalyalya are proving to be outdated in their approach to managing the economy.
Today the Dollar is at K 24 and experts predicts it will get to K30 by January and the BOZ has adjusted the Reserve Ratio in trying to stop the depreciation of the Kwacha .
The truth is that the move will not do anything to address the depreciation but what it will do is to basically crowd out all the money available for banks to lend to the private sector.
Look guys,the economy should be driven by the private sector but what Ba Musokotwane is doing is to kill the private sector by removing money that the private sector can borrow from Banks to pump into their businesses. They believe that there is too much money around and people are buying too much dollars thats why the dollar is appreciating out of the demand and so they have resorted to stiffle the citizen by crowding out Liquidity so that even the little liquidity that will be available for borrowing will be too expensive and no one will be willing to borrow .That will completely kill the already dead private Sector .Lets face it,is there any money today in circulation that ba Kalyalya wants to remove out of circulation??isnt every Zambian broke today??
I will tell you this and u will remember me ,the Economics of Ba Musokotwane and Ba Kalyalya is oudated and they will Kill the Little economy left already.
We must be looking for other solutions to arrest the depreciation of the Kwacha and exports would help but what are we going to export if you are killing the private sector.
Anyways am not an Economist this is the little i have learnt from the streets.
TIME TO CHANGE THE WAY WE DO THINGS WE NEED FRESH MINDS IN LEADERSHIP AND AM READY IF YOU NEED ME .
BINWELL MPUNDU
NKANA MP
UMWINA NKANA.
You make sense on this one honourable
Binwell Mpundu does not understand what being in an economic crisis is. We’re in one right now. It’s actually due to the kindness of strangers that he even gets his pay from Parliament. It could have been much worse had it not been for the steady hands of the Musokotwane-Kalyalya team.
We seem to have leaders that speak like uneducated people.
All in an effort to sway the public through misinformation. As a people we need to rebuke them and their utterance.
They only want to disrupt the quiet peace that we enjoy. We are in this economic position partly because of the reckless fiscal discipline of Mr. Mpundu’s party and partly because of global issues that we have no control. Now he wants to suggest that individuals are incompetent? Cheap politics. And ignorance on his part. Try taking a course in economics that way he would understand the fundamentals.
Musokotwani and kalyalya are weak soldiers nothing they will do only kaleb and mangande they can change this situation.
Yes we can see that musokotowane and kalyalya have failed. Better we give chance to others who can come with better ideas. Time for a re-shuffle.
What happened to Christopher Mvunga’s Gold buying program?
He made more sense than what is obtaining currently!
Yes this team has failed to stop the kwacha
Fall against the dollar.They don’t have dollars
And our exports is nothing when we look at
Imports.lastly mines are on free tax rebate.
So I doubt if they will be able to stop further
Fall of kwacha.
You may say whatever you want but this are our seasoned economists. They know what they are doing. We will stick with them. Remember how some dog from Chawama plundered this economy for 7 solid years and you kept quiet.
All Zambians must be made to take an Oath of Allegiance to Zambia!
Every citizen must be made to understand what it means to be a Zambian.
We must speak well of our country in both good and bad times!
We must be well-informed citizens who should understand how happenings in the global economy impact our local economy!
We must realize that the Kwacha is not the only underperforming currency! Global inflation is trending upwards. Inflation is causing a steady rise in the cost of living globally!
What makes Zambia’s situation bad is the prevailing Debt Crisis, thanks to the Panga Family!
The second evil plaguing our nation is the lack of seriousness when it comes to taxing our mines!
How do you give tax holidays when you are faced with a serious Fiscal Deficit? You must be out of your mind to do that!
Zambia’s Debt of less than $16Billion is not something that should cause us sleepless nights!
Our friends are boasting of debts of over $100 Billion and we are crying and losing sleep over ka $16 Billion? We must be sick jockers!
Aliko Dangote borrowed $15 Billion to set up a refinery!
What we need to do now is to put our house in order! We need to review and revise our Mining contracts! The GRZ should have 50% Shareholding in ALL mines!
This will help us to maximize revenue from the mines alone!
We need to come up with a new currency that should be backed by Gold and all our precious minerals!
All precious minerals should be stockpiled by Bank of Zambia.
We don’t need to go to IMF!
We are a rich nation!
Our only tragedy is having clueless, greedy, myopic, visionless leaders!
I agree with you Chikubabe. The biggest problem we have is the political leadership. They are greedy, myopic and visionless. But then, this reflects the condition of the average Zambian, very low integrity levels!
Forget about the copper mines. What is happening to Kasenseli Gold Mine? Why have we not benefited from our emaralds? Zambian emeralds are high quality and greatly sought after. What about surgilite? Let us focus on low volume high value goods. Gold alone sells for US$1990 for 31. 103grams (troy ounce). Yes, almost US$2000 for 31g!!!! and we are wasting time talking about copper!
Our lazy diplomats must also chip in by vigorously looking for products we can potentially export to their countries of accreditation and formalising export arrangements. Small scale producers can then pull resources together and export goods and share the proceeds. However, this calls for proper organisation not the “ni cekeleko” type of arrangement where hurdles are thrown at you at every turn.
Your Points JMC and Chikubabe are plausible and maybe valid. Why have we not taken that Route then? Maybe it is not that Simplistic? Could it be that International Capital also have vested Interests in our Natural Resources and will not let go? To use a simple illustration: We have the Mealie Meal, Water and Fire, but we don’t have the Pot and we don’t know how to cook Nshima. If we can’t invite the one who has a Pot and knows how to cook, we will remain hungry. Since 1964,when we got Independence we should have bought a Pot and learnt the Art of Cooking Nshima without depending on Outsiders. Maybe we kill the Messenger instead of the Message on what Fred M’membe talks about when it comes to International Capitalists? I was old enough when Government had 51% Shareholding in Strategic Companies in the country. The Results are there in the Archives for anyone to read about. I am not for the idea of Government meddling Shareholding in Business they have least Competence, Guys.
Please suggest what we can manufacture and export in the short to medium term to increase the inflow of dollars to stabilize the exchange rate.
To be an MP is deemed as a responsible job. That’s why the name of an MP is prefixed with the title “Honourable”. It means that the conduct and manner of speech of an MP ought to be cool, calm and collected and always looking at the bigger picture. No MP should lead in rouble rousing as that just creates more heat than light. BoZ officials are amenable to summons before relevant committees of Parliament to account for the central bank’s actions. That would be far better than cheap, one-sided shots which will not even get a response.
cialis and viagra sales Chun YS, Parker RJ, Inampudi S, et al
I agree with you Chikubabe. The biggest problem we have is the political leadership. They are greedy, myopic and visionless. But then, this reflects the condition of the average Zambian, very low integrity levels!
Forget about the copper mines. What is happening to Kasenseli Gold Mine? Why have we not benefited from our emaralds? Zambian emeralds are high quality and greatly sought after. What about surgilite? Let us focus on low volume high value goods. Gold alone sells for US$1990 for 31. 103grams (troy ounce). Yes, almost US$2000 for 31g!!!! and we are wasting time talking about copper!
Our lazy diplomats must also chip in by vigorously looking for products we can potentially export to their countries of accreditation and formalising export arrangements. Small scale producers can then pull resources together and export goods and share the proceeds. However, this calls for proper organisation not the “ni cekeleko” type of arrangement where hurdles are thrown at you at every turn.