Zambia risks being plunged into economic crisis – Kalumba

Former Finance Minister Katele Kalumba has cautioned that Zambia risks being plunged into an economic crisis if the transition period is not handled in a civilized manner.

Dr. Kalumba notes that is it during times like these that the country’s currency the Kwacha has been fumbling against other global currencies.

He says this shows that the country’s economy respond to the general public’s sentiments regarding the the political climate.

In an interview with Qfm News, Dr. Kalumba says his caution for the need to have a civilized transition is also based on the fact that the 2015 national budget already has a challenge where trade unions plan demonstrating against the wage freeze imposed on the public service.

Dr. Kalumba states that if therefore the political leadership transition is not handled with care, it would be viewed by investors that the country is now taking the path of instability.

He says this is why as the country goes through this difficult time of mourning, people should remember to turn their tears into intelligent knowledge that the country comes first.

Dr Kalumba who was MMD National Secretary during the transition period of 2008 when then republican President Levy Patrick Mwanawasa died, says Zambia has to survive beyond an individual.

He notes that the transition period of 2008 after the death of Dr. Mwanawasa was managed in a civilized manner because the MMD created a sense that there were constitutional provisions on which the country would elect a new President.

Dr. Kalumba says this was in addition to the adequate checks and balances that existed in the former ruling party that which were used to stabilize the party and ensure that no unmanaged acrimony could arise.