Chibamba advises govt against over dependency on copper

Economist and former International Monetary Fund (IMF) Communication Advisor, Chibamba Kanyama

Economist Chibamba Kanyama has advised government against depending on copper in growing the country’ economy.

Mr. Kanyama has told QTV Business News that Zambia is capable of recovering the economy without depending on increased copper prices.

Mr. Kanyama says the country can recover the economy by ensuring for fiscal discipline and ensuring that there is prudence in expenditure and by increasing on the resource base in terms of revenues collection.

He has stated that the World Bank and the IMF analyzed that China which is the major consumer of the country’s copper moved away from investment to focusing on consumption and that should be a lesson to Zambia on not to depend on copper to grow the economy.

He charges that anchoring the economy of Zambia on what is pertaining in the increase of copper in the international market might be misleading.