Chikwanda, Gondwe implementing old fashioned economic policies-FDD

Forum for Development and Democracy (FDD) has accused Finance Minister Alexander Chikwanda and Bank of Zambia governor Michael Gondwe of implementing what has been described as old fashioned economic policies, Forum for Democracy and Development (FDD) spokesperson Antonio Mwanza has said.

Mwanza has charged that Chikwanda together with Dr Gondwe had embarrassed government over the implementation of the stressful Statutory Instruments number 33 and 55 which have since been revoked.

Mwanza said that as much as the move was welcome, Chikwanda and Dr Gondwe should take a moral step to resign in order to save Zambia and government from further embarrassment in the manner the two were managing the economy of the country.

Mwanza said that Chikwanda was forewarned over the SI 33 and SI 55 which had stressed the country’s economy but he did not listen and justified the move by calling FDD president Edith Nawakwi a ‘street woman’ whose economics were of the streets after she advised him not to go that way.

“Now that Chikwanda has revoked his own SI 33 and 55 which my party president Nawakwi consistently advised him to abandon because of their stressful nature on the country’s economy, it is only prudent that he and Bank of Zambia governor Michael Gondwe should resign to save this country and government from further embarrassment. The Chikwanda and Gondwe economics are old fashioned and have failed,” said Mwanza.

Mwanza warned that allowing Chikwanda to continue in office as Finance Minister would be a disservice to the nation as he did not understand modern economics.

He said that it was heartbreaking and regrettable that Chikwanda had continued making similar mistakes such as those committed during the UNIP government where he served in the same capacity.

“The mess the country finds itself into now was caused by Mr. Chikwanda during the UNIP regime. He was minister of Finance and he keeps doing the same things which stress Zambians. Zambians are now living in poverty because of the Chikwanda economics which has no value to the nation.

“But because of being stubborn and failing to listen he has caused more stress and harm to the Zambian economy. He has gone to borrow millions of dollars a move which would have been avoided if he did not bring SI33 and SI 55,” said Mwanza.