THE ECONOMIC RECOVERY PROGRAM IS WEAK AND NEEDS AN URGENT ALTERNATIVE

17TH DECEMBER, 2020
STATEMENT FOR IMMEDIATE PRESS RELEASE.

As Movement for National Transformation, (MNT) we are sad, to note that when the Country is
going through serious economic challenges, including; Silence at critical times, by the Patriotic
Front leadership in national interests, a subdued economic growth pattern since 2011, a weak fight
against Corruption, politicization of the Fiscal and Monetary Policy implementations, A WEAK
EXCAHNGE RATE OF THE KWACHA, lack of disposal income for our Citizens, and lack of
liquidity in our economy, the launched Economic Recovery Program (ERP) needs macro￾economic alternatives from these inherent gaps.
Furthermore, Covid-19, and climate change, cannot be palliative excuses, for lack of recovery of
our ailing economy. These should have been managed by a government that is transformative, and
not continue giving excuses to hide ineptness and incompetence in macro-economics. The
following are areas that need alternatives, in the just launched Economic Recovery Program
(ERP):
1. FIRSTLY, IT IS A VERY WEAK MACRO-ECONOMIC VISION OUTLOOK.
The Fiscal and Monetary policy vision, cannot override the general oversight of the
National Vision of the Executive, to inform the technocrats in the; Ministry of Finance,
Bank of Zambia, and Ministry of National Planning and Development, or Cooperating
partners, as secondary complements. Home grown solutions, and inward- looking policies
should be the driver of the economic growth, not just recovery. This is a weak point, for
this program and must be revisited.
2. SECONDLY LACKS STRONG NOVEL ECONOMIC REFORMS.
We were expecting stronger novel economic reforms, which can mitigate protracted
subdued growth patterns from the last five years. Repeating or changing the same economic
furniture or vocabulary in the same room, will not bring about transformative results. We
need a bold vision for reforms, which is lacking from the speech and launch
3. THIRDLY FAILS TO FIGHT CORRUPTION.
There are no novel initiatives, to curb corruption within government in Collusion with the
private sector through; Controlling Officers, Procurement, and a strong legal framework
for enforcements. We need a zero tolerance to corruption, which is also lacking.
4. FOURTHLY LACKS STRONG INDUSTRIALISATION FUNDAMENTALS.The Start-offs for industrialization development, are missing in the entire program. It is a
‘minimalist’ approach, and only massages the political damage control of the government
thus far, sadly. Consumptive economics of wastage and caderised systems, must be refused
with effective; distribution, Production, and needs a well-managed Exchange rate system,
going forward. Corruption and a high -politicization of economic development, is a great
hindrance, in the current macro-economic agenda of the government.
5. FIFTHLY TARGETS ON RECOVERY RATHER THAN GROWTH.
The target for recovery, is not good enough. Since 2011, four different Ministers of
Finance, have been saying the same thing, only changing the vocabulary. What is new now
from the Economic Sustainability and Growth Program- Zambia Plus, for the current
(ERP)? This is a policy; incoherence, inconsistency, and incomprehensiveness. We need
effective first world macro- economic crafting and planning, not third world thinking.
6. FIFTHLY COVID-19 AND CLIMATE CHANGE ARE NOT EXCUSES.
The Global Covid-19 pandemic, and Climate Change, are not ‘veils’ to blind the failure of
the macro-economic initiatives of the Patriotic Front Government. We need alternatives in
policy, to make us competitive and comparatively advantaged, with greater advanced first
world economies. Debt sustainability, is very weak, and the sinking fund is not in view,
because money for cadres and by-elections is there, not the general economy why?
Conclusively, we need a national transformative vision for macro-economic growth, not
recovery. AS LONG AS WE ARE PLANNING THIRD WORLD, WE SHALL REMAIN
UNDERDOGS IN THE GLOBAL SHARE OF THE ECONOMY. EXPLOTATION OF
OUR RESOURCES MUST BE CURBED NOW!
ISSUED BY:
DR. DANIEL MVULA SHIMUNZA
MNT FOUNDER PRESIDENT
FOR FIRST WORLD ZAMBIA IDEOLOGY.