Finance Minister Alexander Chikwanda has told Parliament Friday morning that the statement by Finance Ministry Spokesperson Chileshe Kandeta rubbishing the down grading of Zambia by international rating agency Moody’s was embarrassing to the Ministry.
And Chikwanda has welcomed suggestions by the opposition that Chief Government Spokesperson Chishimba Kambwili stops issuing comments on the free falling Kwacha because he was not an authority on economic matters.
Chikwanda said the statement by Kandeta was embarrassing to the ministry and stressed that his ministry pays attention to rating agencies adding that Moody’s was a respected agency.
‘It is a pity that an overzealous officer (Kandeta) in the ministry commented on Moody’s to our embarrassment as a ministry,’ Chikwanda lamented.
Chikwanda said Kandeta’s statement had more zeal than sense.
He said his ministry had no intention to get into quarrels with rating agencies but was quick to mention that he did not agree with the rating of the Kwacha as one of the worst in Africa by Bloomberg accusing the Bloomberg reporter of being misguided.
Chikwanda argued that Bloomberg did not show any empirical evidence to prove that the Kwacha was the worst performing currency on the continent and charged that not all that Bloomberg writes should be taken as gospel truth.
And Chikwanda has welcomed suggestions by the opposition that Chief government Spokesperson Chishimba Kambwili stops issuing comments on the free falling Kwacha because he was not an authority on economic matters.
Chikwanda was responding to a question by UPND Senanga Central Member of Parliament Likando Mufalali who wanted to know if the Minister could consider stopping people like Chishimba Kambwili and Kandeta from commenting on the performance of the Kwacha and poor economy because they were not respected in economic matters.
‘He has given some very wise advice and I don’t think I should negate what he has said,’ Said Chikwanda in response.
He said policy consistency was very important and pointed out that issuing conflicting statements was not helping the situation.
‘Policy consistency was very important because when we somersault and issue statements which are clashing with each other it doesn’t help us because what we say can create wrong perceptions to the international community,’ Said Chikwanda.
Kambwili and some PF party cadres have been issuing pedestrian comments on the poor economy.