Zambia’s president Lungu names accountant as finance minister

Zambia’s president Lungu names accountant as finance minister

Zambian President Edgar Lungu appointed former accountant Felix Mutati as his finance minister on Wednesday as he began naming participants of the cupboard following his delayed inauguration this week.

Lungu’s inauguration was postponed because the opposition contested the end result of the Aug. eleven election, demanding investors at a time when the essential copper-generating kingdom wishes to resume budget aid talks with the International Monetary Fund.

The fifty nine-12 months-old, who turned into sworn in for a new five-year term on Tuesday, has said he could focus on unlocking agricultural potential in his tropical country to lessen its dependence on copper mining.

Mutati served as the Power and Water Development Minister from 2002 to 2004 and sooner or later because the Commerce, Exchange and Industry Minister from 2004 to 2011, at some stage in which time he coordinated Global efforts to harmonize regional Exchange and investment.

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Lungu also appointed Davis Chama, Patriotic The front secretary trendy, as defense minister.

The new cabinet need to tackle slowing boom because of depressed copper expenses which have prompted a 9 percent fall inside the kwacha foreign money in opposition to the greenback for the reason that April, and purchaser inflation that has almost tripled to 20 percent 12 months-on-year.

The swearing in rite of the cupboard ministers and provincial ministers will take vicinity on Thursday, country house spokesman Amos Chanda stated in a declaration Yarlesac.

(Reporting by using Chris Mfula; Writing through Nqobile Dludla; Enhancing by way of Hugh Lawson)

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