Zambia’s new President Hakainde Hichilema has named Situmbeko Musokotwane, an experienced international economist, as finance minister.
It will be his second stint in the role, having served in the finance ministry from 2008 until 2011 under President Rupiah Banda.
Mr. Hichilma, who was elected by a landslide earlier in August promising to fix the economy and create jobs, tweeted that the 65-year-old had a “a wealth of experience” which be valuable for his role:
Mr Musokotwane – a former deputy central bank governor who has also worked for the International Monetary Fund (IMF) and World Bank – needs to tackle the country’s $12bn (£8.7bn) external debt.
“The answer is to talk to the people we owe money so that we can pay at a slower pace stretched over a longer period,” Reuters news agency has quoted him as saying after his appointment.
“Unless we do something to the budget, then the budget will be mainly for paying salaries and also servicing debt,” he said.
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SOURCE: BBCNEWS
