2 thought on “HH urged to avoid ‘careless’ borrowing, only as a last option”
It is his time to revamp his business, bus people always want maximum profits.
His business like Trump will do better during the five years in office since he is the managing director of Zambia, all contracts have to pass his office.
A business man is always mad at seeing money flowing into his business.
I don’t see any advantage to have him in state house.
The Govt should only borrow New Loans prudently to avoid a New Debt Trap. A new External Loan Borrowing Criteria must be put in place where all Offshore Borrowings must first be approved first b4 they are contracted. Only the Minister of Finance should have the Mandate to borrow domestically loans in terms of State Loans and Guarantees Act. All foreign loans should be jointly approved by Ministry of Finance and BOZ b4 they are contracted. Parliament should ratify all Foreign Loans b4 they are drawn down by the borrowing entity. On the existing Debt due diligence should be done on all loans contracted to date. Its strange that a local Zambian Company is registered as a USD Creditor to the tune of USD 300 million. Are Resident Companies in Zambia allowed to lend to GRZ in Foreign Currency when the Domestic legal Tender is Zambian Kwacha? Was the USD 300 million not a product of Money Laundering? Why didn’t the Local Creditor lend to GRZ in Local Currency (ZK) and not in Foreign Currency(USD)? There are more questions than answers on this particular Debt.
It is his time to revamp his business, bus people always want maximum profits.
His business like Trump will do better during the five years in office since he is the managing director of Zambia, all contracts have to pass his office.
A business man is always mad at seeing money flowing into his business.
I don’t see any advantage to have him in state house.
The Govt should only borrow New Loans prudently to avoid a New Debt Trap. A new External Loan Borrowing Criteria must be put in place where all Offshore Borrowings must first be approved first b4 they are contracted. Only the Minister of Finance should have the Mandate to borrow domestically loans in terms of State Loans and Guarantees Act. All foreign loans should be jointly approved by Ministry of Finance and BOZ b4 they are contracted. Parliament should ratify all Foreign Loans b4 they are drawn down by the borrowing entity. On the existing Debt due diligence should be done on all loans contracted to date. Its strange that a local Zambian Company is registered as a USD Creditor to the tune of USD 300 million. Are Resident Companies in Zambia allowed to lend to GRZ in Foreign Currency when the Domestic legal Tender is Zambian Kwacha? Was the USD 300 million not a product of Money Laundering? Why didn’t the Local Creditor lend to GRZ in Local Currency (ZK) and not in Foreign Currency(USD)? There are more questions than answers on this particular Debt.