BANK of Zambia (BoZ) Governor, Christopher Mvunga, has reportedly cautioned South African Finance Minister Tito Mboweni to stop uttering remarks that will injure the good relationship between Zambia and South Africa.
Mr Mvunga expressed disappointment at the recent remarks uttered by the South African Finance Minister.
Mr Mbowenin who has several times dived into Zambian politics, was quoted saying “Zambia is a failed state.”
Mr Mvunga, in a sharp response not only reminded Mr Mboweni of the sovereignty of Zambia but pointed out that the continued machinations could risk the good relations between Zambia and South Africa.
He observed that is was saddening that Mboweni has continued to put pins in the Zambia and South Africa relations which dates way back with Zambia being an aid to help South Africa gain independence.
As Covid-19 exacerbates the pressure on vulnerable public health systems in Africa, the economic outlook of African countries is also becoming increasingly unstable.
Many African countries are in financial crisis with Zambia and South Africa being no exception, other countries seemingly struggling to include Kenya and Ghana.
Zambia this month defaulted on its Eurobonds repayment, the first time since the onset of the coronavirus pandemic.
But according to the Bloomberg BusinessTech, Mboweni said South Africa can’t implement a pay deal with public servants because it would precipitate a fiscal crisis.
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