Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

US media reacts to ebola scare

Read more

DEBATE

How to Stop Ebola: Center for Disease Control Confirms First Case of Virus in US (part 2)

Read more

DEBATE

How to Stop Ebola: Center for Disease Control Confirms First Case of Virus in US

Read more

THE INTERVIEW

I will support Hillary Clinton, will.i.am tells France 24

Read more

FOCUS

Germany: Spread of radical Islam propaganda sparks concerns

Read more

ENCORE!

Corrie Nielsen: Up and Coming Talent at Paris Fashion Week

Read more

FACE-OFF

French Senate election: A new blow for Hollande

Read more

ENCORE!

Encore's Film Show: Julie Gayet, Denzel Washington, and cartoon madness

Read more

MIDDLE EAST MATTERS

Turkey's strategy towards the Islamic State group

Read more

Zambia's future uncertain

Latest update : 2008-08-20

Zambian President Levy Mwanawasa's died at age of 59 in a French hospital on Tuesday, leaving vice-president Rupiah Banda as his successor. New elections should be help in the next three months.

LUSAKA - Zambia will maintain its prudent macroeconomic policies following the death of the country’s President Levy Mwanawasa, Finance Minister Ng’andu Magande said on Tuesday.

Mwanawasa, 59, who was well-respected among donors for policies that have helped boost growth and for clamping down on corruption, died in a French hospital after suffering a stroke in June.

”It’s indeed a tragedy because he was a good captain, but I am sure another captain will be found to steer the ship,” Magande told Reuters.

”The good thing is that he taught all of us how to govern this country with integrity.”

Zambia’s economy has averaged 5 percent growth over the last six years and the inflation rate declined to single digits in 2006 for the first time in over three decades, although it has accelerated recently on higher global fuel and food prices.

Zambia did not need political changes and would focus on boosting economic growth, he said.

”We have never had it this way since we gained independence and nothing will really change, everything looks positive,” Magande said.

Zambia’s kwacha currency fell as much as 3 percent on news of Mwanawasa’s death.
 
The International Monetary Fund and other Western donors extended billions of dollarsindebt relief to Zambia after Mwanawasa curbed government spending and launched the biggest anti-corruption drive since independence from Britain in 1964.
 
”We will surely find someone wearing the same team shirt and macroeconomic policy will continue the same way,” Magande said. ”Economic transformation will continue so we can sustain our political and economic gains.”

 

Date created : 2008-08-19

COMMENT(S)