Zambia’s debt a ticking time bomb – HH

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HH

United Party for National Development (UPND) leader Hakainde Hichilema has described the country’s debt stock as a time bomb.

Commenting on the recent announcement by the IMF that negotiations for the country’s loan deal had collapsed, Hichilema accused the PF government of consigning future generations to perpetual debt and poverty.

He noted that youths and women were living in squalor due to unemployment and slavery jobs while government is failing to explain where they are taking the borrowed money.

“This was despite the fact that we did not only advise against borrowing from expensive sources, but we also offered alternative financing solutions which included, prudence and investing in productive sectors. This is a tragedy and a time bomb for the country. What the PF has done is to consign future generations to perpetual debt and poverty. All the money that will be used to pay back this debt could have been deployed to education, health and agriculture.

“To date, an army of our people, especially youths and women are struggling without decent jobs, while others are desperately being engaged in occupations that amount to slavery within our country. We challenge the PF leadership to tell the nation where the borrowed resources were applied and also give us a clear plan for repaying the money,” he said.

He further said Zambians will bear the burden of repaying the loans.

“We know that while they looted the treasury, it’s the Zambian taxpayers who will have to bear the whole burden of repaying the loans through increased in taxes. Chipantepante is now in full gear! Let us brace ourselves,” he said.

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4 Responses to Zambia’s debt a ticking time bomb – HH

  1. Zambia is suffering because we lack political leadership especially in the PF government. As long as we continue putting people of low calibre, poor attitude in serious positions, then, we will continue living below par till Jesus Christ comes again.

    Mainza
    December 5, 2017 at 1:32 pm
    Reply

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    Sarrisina
    December 5, 2017 at 5:04 pm
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  3. Calibre yes indeed those are the same politicians we have in opposition.
    May be even worse politicians are in opposition some of them have very negative historical backgrounds.
    However these are the characters we in trust with the nation.
    The solution is to check on their acts when in power this is the disease of all humanity.

    nshilimubemba
    December 5, 2017 at 5:59 pm
    Reply

    • I think the opposition has the right caliber but we’ve always deliberately chosen to ignore them just because they belong to certain tribes. If Zambia has to develop, we need each other as a people regardless of our areas of origin within the Zambian borders. I rest my case.

      Mphangwe
      December 6, 2017 at 9:50 am
      Reply

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