Katele calls for stronger economic leadership

…as he contrasts Dr Denny Kalyalya to Stella Chibanda whom he says is not only a very intelligent economist hands-on but a diamond of a leader in monetary policy issues.

FORMER Finance Minister Dr Katele Kalumba, has expressed concern over the state of the Zambian economy.

Writing on his Facebook page, Dr Kalumba has suggested that the weak link in the management of the economy appeared to be at the Chief Executive Officer of the Bank of Zambia, Dr. Denny Kalyalya.

Dr Kalumba said the Chief Executive Officer of the Bank of Zambia Dr Denny Kalyalya was a good but tired technocrat who needed to rest.

Dr Kalumba explained that from his experience, he had learnt that Dr Kalyalya could not be a policy leader of the country’s most important institution responsible for the balancing act in the slippery relationship between the Zambian currency, the Kwacha the US dollar in the country’s banking system.

“While huge amounts of dollars may come into the country, without critical BoZ leadership, it may just be a conduit for mopping up even the existing dollar stock without producing tangible goods in the real economy. This is our economic entanglement under conditions a debt,” the bed-ridden Katele Kalumba explained. CLICK HERE TO READ MORE