FORMER Minister of Finance Katele Kalumba says the Patriotic Front (PF) administration has a broad range of tested and specific measures to address the downward spiral of the Kwacha.
Dr Kalumba said he is confident that the ruling party’s “arsenal” is effective to address the current economic challenges.
He said this in a statement issued from Chienge yesterday.
“While it is recognised that China’s demand-side is for the short-term under pressure, Zambia has demonstrated its capacity to ring fence itself from global financial crisis twice,” Dr Kalumba said.
He said there are strong internal factors to support the Kwacha when prudent fiscal and monetary measures are effected.
Dr Kalumba said the industry and banking sector should be steadfast and work with the Ministry of Finance in implementing bold measures which have worked before in 2000 and 2008 during a similar situation.
And Dr Kalumba has urged interest groups in the country to develop a proactive stance and embrace dialogue.
“Negative economic sentiments come from lack of consultative dialogue. Zambia needs to be proactive and think outside the box now,” he said.