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Zambian leader swears in new finance minister to stabilise economy

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Zambian President, Edgar Lungu, on Monday, directed his newly-appointed Finance Minister, Bwalya Ng’andu, to use his vast experience in stabilising the economy.

He made the remarks when he swore-in Ng’andu as the new minister of finance following the sack of Margaret Mwanakatwe.

Lungu said he had no doubt that the new minister, with his experience in matters of economic management, was up to the task to turn the economy around.

He urged him to work with stakeholders both from the government and cooperating partners.

“My expectation from you is to ensure you amortise debt and coordinate financial activities for the different ministries and their related entities,’’ he said.

On his part, the new minister pledged to restore fiscal stability and deal with the country’s debt problem.

The minister was serving as deputy governor of the central bank before his appointment.

He has a Doctor of Philosophy in Economics, among his other qualifications.

Ng’andu has served in high profile positions both in government and the private sector.

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