Wednesday, 19 January 2011


Former Bank of Zambia (BoZ) Governor David Phiri says he is happy that Zambia’s economy is performing extremely well.

Mr. Phiri cited the annual inflation rate which dropped to a single digit of 7.3 percent, the country’s Gross Domestic Product (GDP) driven by increased output in key economic sectors like mining with record high copper production, and the agriculture sector recording an unprecedented 2.8 million tonnes maize bumper harvest.

In an interview with ZANIS in Lusaka today, Mr Phiri who was the Central Bank Governor from 1984 to 1986 said the influx of foreign investors like the Chinese investing in Zambia’s key sectors was a great achievement in the country’s history.

The former BoZ also refered to the recent index ranking of President Rupiah Banda as the 12th  best performer among African Heads of State as a plus to Zambia.

“The economy of Zambia is progressing on very well and a few examples are the good copper prices trading on the market, investors coming to invest in our economy and you might be aware that last year, we had a bumper harvest recorded….This is because of the good policies put in place by President Banda and the Government,” Mr. Phiri said.

He further commended President Banda’s administration for devising pro poor policies aimed at uplifting the living standards of ordinary citizens, an indication that Zambia’s economy was growing steadily at 6.6 percent as projected by Government.

The former Central Bank Chief implored his counterpart Dr. Caleb Fundanga to work closely with Government through the Ministry of Finance and National Planning to continue funding developmental projects, monitor and regulate the economy, if Zambia was to maintain its positive macro-economic path.  

Mr. Phiri added that President Banda had scored a lot in just in two years of being in office and this spoke volumes of having put his goals straight by prioritising the country’s needs to benefit the Zambian people.

“President Banda’s achievements, speaks volumes because he has set his goals straight by prioritising the country’s needs to benefit the Zambian people,” he noted.

On infrastructure, Mr Phiri stated that there was massive development in this sector and commended Government and its cooperating partners’ resolve to improve the country’s economy.

In the light of what President Banda had scored in the last two years of being in office, Mr Phiri urged Zambians to vote for the Head of State in this year’s Presidential elections and avoid making a mistake to vote for the opposition.


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