25 October 2007

Zambia: Country Economic Path to Freedom On Track

Ndola — ZAMBIA is on track to gaining the much sought-after economic independence because it is no longer a debtor nation and registered positive economic growth over the last few years, Finance and National Planning Minister, Ng'andu Magande has said.

Mr Magande said in an interview at State House in Lusaka yesterday that although about 26 per cent of Zambia's Budget was still dependent on donor funds and loans, Zambia could boast of a measure of freedom because it was not a debtor nation.

Mr Magande said the fact that Zambia was not a debtor nation meant that the country could make independent decisions on how to develop because the donors and creditors could not direct the Government on what it should do.

"We are not independent but I think we are getting there because our economy is growing and the 2005 debt write-off has also greatly helped.

"My greatest wish is that each Zambian starts being proud of being a Zambian and contribute to development within the peace and stability that we enjoy," he said.

Mr Magande said coupled with the investment that was flowing into Zambia, he was confident that the country would have even much less dependence on donor funding for the national Budget in the coming years.

He said the Government would not discriminate against investors based on their country of origin because that was not part of the criteria used for allowing people to do business in Zambia.

Mr Magande said the Government had cultivated local and international confidence, trust and integrity that it was worth doing business with and would maintain those standards as the country moved towards attaining the Vision 2030.

Copyright © 2007 The Times of Zambia. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.