KWACHA UNDER ATTACK

THE target is the Kwacha specifically and the Zambian economy in general. It is obvious even to the most cynical that Zambia is under siege as her detractors have launched an all-out offensive of spreading lies about her economy. Nothing would make them happier than her economy collapsing. They know that perception is just as effective, if not more destructive to economic fundamentals as evidenced by the sudden erratic movements of the Kwacha. The detractors have managed to mislead even the international community, particularly around the region that Zambia has lost all foreign aid due to perceived rampant corruption. This undue pressure has also seen the Kwacha lose value. Yesterday, Finance Minister Margaret Mwanakatwe went to great lengths to assure the nation that Zambia’s relations with the donor community were intact as none of her partners has cancelled their bilateral aid to the country. What has been affected has been the aid provided under the Social Cash Transfer programme administered under the Ministry of Community Development and Social Welfare and the education budget support to the Ministry of General Education. Ms Mwanakatwe, speaking in Parliament disclosed that donor support in other government ministries and social programmes were still intact. According to the Minister, the United Kingdom has continued to support various programmes including such areas as governance, conservation agriculture aimed raising the productivity of small-scale famers, Sanitation and hygiene as well as financial sector deepening. Other programmes supported by the UK include public financial management and anti-corruption initiative aimed at improving financial management and revenue generation by reforming and modernising core financial and management of tax systems. An impression has been created that Zambia’s economy has crumbled, with donors suspending all aid programmes. Nothing can be further from the truth. We all know the genesis of this sustained campaign to destroy the country’s economy – China’s perceived growing influence in Zambia and other Third World countries, particularly in Africa. It is a fear of the unknown that is unjustified. Zambia’s close ties with China go a long way - any keen student of history would confirm this. As veteran freedom fighter Sikota Wina says, suggestions that the Chinese government would recolonise Zambia through a debt trap are ill founded, because China helped us during the liberation struggle against colonialism. Mr Wina explained that he was disappointed with the anti-China campaign as China has been an all-weather friend for years and assisted in developing the country. Despite all these historical ties, the West has gone all out to discredit Chinese aid, more so the infrastructure support programme that has seen a massive construction of roads, schools, hospitals and other public undertakings. But amidst all this hostile environment, Government has shown that it has not lost track of what needs to be done. President Edgar Lungu has already cracked the whip with Ms Emerine Kabanshi being sacked as Minister of Community Development and Social Welfare in connection with the misapplication of funds under the Social Cash Transfer administered through Zampost. In fact, it turned out that long before Britain’s High Commissioner to Zambia Fergus Cochrane-Dyet broke diplomatic etiquette by announcing the “suspension” of aid via Twitter, Government had already started an internal investigation. President Lungu’s special assistant for press and public relations Amos Chanda disclosed on Wednesday that investigations into the funds were actually ordered four months ago but that the President was not happy with the slow pace of the probe. Amidst all this animosity though, we urge Government to remain focused and continue with its investigations into the social cash transfer scam and bring to book all who have misused money meant for the most vulnerable in the nation.