Kwacha will recover, says Katele

Zambians should not panic over the depreciation of the Kwacha against major foreign convertible currencies because it will recover soon, former minister of Finance Katele Kalumba has said.

And Dr. Kalumba has expressed disappointment with the calibre of  opposition in Zambia, saying it had failed to live to the expected standards of offering credible checks and balances.

The fall of the Kwacha, he said did not reflect the actual economic growth of the country.

He said in the 2016 national budget, Government had proposed measures which would address the depreciation of the Kwacha against major foreign convertible currencies, adding that those with the interest of Zambia should instead support Minister of Finance Alexander Chikwanda for the proposals.

“People should not panic over the performance of the Kwacha, things will be fine. The Kwacha will appreciate and will be in a manageable exchange rates. Support the measures the Minister of Finance Alexander Chikwanda has put in place. One thing I have noticed is that the opposition is sleeping,” said Dr. Kalumba.

And Dr Kalumba said the opposition could not offer credible checks and balances to the challenges the nation was facing because the agenda of all the leaders was State House.

He said it was shocking for some opposition leaders to expect an increase in the national budget when Government did not have money.

Dr. Kalumba said the preoccupation of going to State House at all cost will not change the ball game now because Zambians were aware about the true leadership the PF were offering in addressing the lives of the people.

“The opposition cannot give the kind of criticism they are giving today if they want to govern. It is a day light fact that their preoccupation is to go to State House. But if that is the reason most of them will be voted into power, then we are courting disaster for the nation. You cannot have a leader who wants to budget for more when he has no money like the way some opposition leaders are thinking,” he said. Dr Kalumba said the opposition have failed to show leadership in the management of the economic crisis the country was facing, adding that their offer was all about blame which did not endear them to the people of Zambia.

“This is the only thing they are doing, they are playing politics of blame game, look at the way they are talking about the falling kwacha, the falling copper prices on the international market, hear them speak about load shedding in the country, you will be shocked and wonder why they want to be President of this country, they inspire no confidence at all,” he said.

Dr. Kalumba also warned Zambians to be cautious in the manner they wanted to change government, adding that since 2011, the opposition has not given enough reason why they should be voted into government next year.

“That only happened in 1991 when the MMD removed UNIP. It was a movement, a serious movement and what came close to it was the 2011. You saw in other elections that the demand for change was not an issue because the opposition did not give reasons why there should be a change of government,” said Dr. Kalumba.