PF may slide Zambia into debt crisis warns Ex-Finance Minister, Musokotwane

Former Finance Minister Situmbeko Musokotwane has cautioned government not to allow the country slide back into the debt crisis.
Former Finance Minister Situmbeko Musokotwane has cautioned government not to allow the country slide back into the debt crisis.

Speaking in an interview, Dr. Musokotwane says in as much as it is right for government to borrow, there is need to borrow within the controlled levels.

Dr. Musokotwane has also observed that the current debt which stands at 2.6 billion dollars can be controlled if government utilizes the borrowed funds for the intended projects.

He has since urged Finance Minister Alexander Chikwanda to ensure that the loan recently obtained from the Chinese government is used properly.

China has given Zambia a grant worth K16 billion and an interest-free loan of about K65.5 billion both worth over K80 billion to enable the country finance poverty reduction projects.
QFM.