Africa-Press – Zambia. A social economist has described the re-appointment of Denny Kalyalya as Bank of Zambia (BoZ) Governor as a key equalizer to help in stabilising economic prospects which the new government is championing.
Kelvin Chisanga said at present, Zambia is faced with many economic challenges, making it hard and impossible to predict the economic performance of the country.
Mr. Chisanga said the re-appointment of Dr. Kalyalya is a positive move because the operation of the central bank requires someone who is credible. He added that with the re-appointment of Dr. Kalyalya, all stakeholders in the economy can now make sound investment commitments at both macro and micro levels.
Mr. Chisanga said the central bank can now perform its function of advising the government on many issues affecting the economy. He noted that the Bank of Zambia requires a competent, experienced and trustworthy person at the helm to handle macroeconomic matters and to ensure that fiscal policies are properly aligned.
Mr. Chisanga said Dr. Kalyalya will ensure that the microeconomic stance achieves stability in all economic aggregates. He further noted that monetary policy should aim at counter-balancing the effects of inflation by ensuring that the central bank takes a central function of advising the government in pushing for the industrialisation processes.
“A more prudent exchange rate regime needs to be worked on so that we can see great economic dividends in the nation,” he said The social economist added that the current scenario poses a great chance since there is a combination of good factors and pieces aligned.
Mr. Chisanga said this is because the President has shown political will towards rebuilding and revamping domestic economic fundamentals. “The Bank Governor and Minister of Finance makes a mixture of combination which is going to make this entire equation of a perfect economic match for the nation at such a particular moment like this,” he said.
