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(LUSAKATIMES) Dambisa Moyo ticks off PF over policy inconsistencies

Dambisa Moyo ticks off PF over policy inconsistencies
TIME PUBLISHED - Thursday, August 23, 2012, 11:53 am

Zambian born and internationally acclaimed Economist Dambisa Moyo has criticized the clear lack of policy consistency exhibited by President Michael Sata’s administration.

Dr. Moyo said policy inconsistencies which have characterized the PF rule is the number one enemy to Zambia’s economic development. Dr. Moyo observed that the PF government is busy focusing its energies on less important issues at the expense of pressing developmental issues.

She cited the shifting of the provincial capital for Southern Province and the rebasing of the Kwacha as matters that are less important which the government would have not started working on.

“I was in Livingstone yesterday (Tuesday) and I discovered that the provincial capital has moved to Choma, I find that highly irritating because I know that this country has more pressing issues to focus on, shifting of capitals is not one of them,” Dr. Moyo told a parked cheering audience.

Dr. Moyo said investors worldwide are not interested in working with governments that seem to lack a predictable and consistent set of policies.

She said the signing of some statutory instruments without the full participation of the business community has the potential of increasing uncertainties.

Dr. Moyo added that Zambia has many developmental challenges that requires but noted that the country is basically “pussyfooting” at the margins.

Dr. Moyo who was named one of the 100 influential persons in the world by TIME magazine was speaking last evening during a public lecture organised by the Economic Association of Zambia and sponsored by Barclays Bank Zambia.

“I was in Livingstone yesterday (Tuesday) and I discovered that the provincial capital has moved to Choma, I find that highly irritating because I know that this country has more pressing issues to focus on, shifting of capitals is not one of them,” Dr. Moyo told a parked cheering audience.

And Dr. Moyo has charged that it is embarrassing that some commodity rich countries such as Zambia are failing to take advantage of the high commodity prices to benefit the poor.

Dr. Moyo who is also a bestselling author has projected that copper prices would remain high in the medium to long term and urged Zambia to take advantage of the boom to develop infrastructure and make meaningful savings.

She says she finds it highly embarrassing that some commodity rich countries such as Zambia are failing to maximize their returns on natural resources.

Dr. Moyo warned that the current boom cycle will not last forever adding that only countries will clear foresight and policies will benefit.

She emphasized the role that trade plays in economic development saying Africa cannot develop if the continent continues accounting for only 2 % of global trade.

Dr. Moyo also took a swipe at the failure by African governments to implement most of the sound economic policies developed over the years.

She said everyone is agreed that regional integration is one sure way of accelerating trade among African countries but no one wants to move fast and implement the regional integration agenda.

Labels: DAMBISA MOYO, NEOLIBERALISM, PF

posted by MrK @ 3:55 PM