Dr. Kalyalya’s Re-appointment: A Timely Move to Stir Zambia’s Economic Growth, Says Expert
Economic expert Kelvin Chisanga has welcomed the re-appointment of Dr. Denny Kalyalya as Governor of the Bank of Zambia, describing it as a critical and strategic decision for Zambia’s economic future.
Mr. Chisanga believes that Dr. Kalyalya’s resilience and expertise will help steer the country through the current economic challenges, particularly in light of climate change and fiscal deficits.
In a statement, Mr. Chisanga emphasized that Dr. Kalyalya is a “respected and seasoned economist” who has demonstrated remarkable leadership in both monetary and fiscal matters.
He applauded the Governor’s calm, sober approach to managing Zambia’s economic difficulties, including the aftermath of the COVID-19 pandemic.
“Dr. Kalyalya has remained a beacon of ethical leadership in Zambia’s banking sector, and his return to the helm of the Central Bank is both timely and essential,” Mr. Chisanga said. “At a time when the country is grappling with the devastating impacts of climate change and persistent fiscal imbalances, it would have been risky to introduce changes at such a critical moment.”
Mr. Chisanga noted that Zambia’s monetary and fiscal policies have been strained by numerous economic factors, including policy uncertainty. However, he emphasized the importance of Dr. Kalyalya’s steady hand in guiding the Bank of Zambia during these challenging times.
“We need someone at the Central Bank who can resist political and external pressures and make decisions based solely on sound economic principles,” Mr. Chisanga added.
He also called for broader consultations with industry stakeholders to develop economic models that can help reshape Zambia’s industrial focus.
Mr. Chisanga further highlighted that Dr. Kalyalya’s return marks only the second time in Zambia’s history that a central bank governor has been re-appointed after being removed from office. He believes that this speaks volumes about Dr. Kalyalya’s enduring credibility and expertise.
As Zambia faces complex economic realities, the expert urged for swift policy adjustments, with Dr. Kalyalya at the forefront, to create a balanced and sustainable growth path for the nation.
