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Even after debt restructuring, things are getting worse, M’membe

Filed under: Latest News |

Socialist Party President Dr Fred M’membe has charged that things have continued going up even after debt restructuring.

Dr M’membe says, citizens had hope that things would change when the United Party for National Development (UPND) government clinched the debt restructuring level.

On 22th June, 2023, Zambia clinched a deal to restructure more than $6 billion in debts owed to other governments.

However , Dr M’membe says the Kwacha has again gone beyond K19/$, fuel and commodity prices are going up, including mealie meal, which will rise even further after recent fuel price increases.

Dr M’membe says Inflation has hit double digits at 10.3 percent.

He says the conclusion of the mines takeover has been postponed again, and crime and pilferage are going up.

“We were promised that things would improve after reaching the conclusion of debt restructuring. The IMF has released the US$188 million, but things are getting worse. Can the economic managers please give us a clear direction?

“Also, poultry farmers are busy advertising the sale of secondhand poultry cages, an indication that production is scaling down as they exit the sector due to extremely high feed prices.

“The only hope we have is the possibility that God will save us after the Israel pilgrimage,” Dr M’membe said.


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