‘STRIKE A BALANCE ON FOREIGN CURRENCY RESERVES’ – MUNDUBILE
26 June 2026-Katete
Brian Mundubile has stood firm and doubled down on his criticism of the UPND government holding huge reserves in the Central Bank while endemic poverty cripples many Zambians daily
“I’m not ashamed to say it makes no economic sense for president Hichilema and his government to boast of a $6.5 billion reserve base when Zambians are starving and hospital’s lack life saving drugs,” said the NRPUP Presidential candidate from his Eastern province rodeo today.
“Under our government we shall strive to strike a balance between a healthy reserve base and ensuring poverty is under control because that’s what good economic governance entails, ” said Mundubile.
He lamented the fact that:
*Local suppliers have not been paid in years and yet UPND boast of reserves
* Council workers have not been paid
* Nurses and several government workers public service workers and in some cases farmers have not been paid so why boast
* The domestic debt is beyond K250 billion a large chunk of it owed to suppliers and yet UPND and Mr Hichilema boast of reserves at BOZ, what sense is that?
Mundubile said under his administration the Zambian people’s welfare will rise above a bloated reserve but at the same time he will ensure there are enough reserves.
The leading Presidential candidate revealed that recently the government paid K 1 billion outstanding debt to Chinese business in Zambia while neglecting local debt suppliers who are Zambian, an anomaly of quantum proportion because Zambian supplies if paid, help oil the local economy create jobs and reduce poverty.
“After the Chinese were paid we suddenly heard sections of the UPND including the President saying they will be paying people money every week to help campaign, how is that?” asked Mundubile.
He likened the development to a local language bemba saying:
“ubushiku akakote kafwile mumushi chimbwibanya imfwi,” a cause and effect analog meaning the day an old woman dies in a village, the Hyena’s droppings are laced with grey hair.
Mundubile also questions UPND glowing stats on rising GDP growth and dropping inflation in Zambia.
“If the economy is growing, inflation is dropping and the local currency kwacha is strengthening against the dollar how come fuel prices remain high and the price of commodities such as bread and mealie meal remain high, it doesn’t make sense what President Hichilema says to Zambians that are starving hence the reason he must go on 13th August.”
The UPND government goes to the polls weaker than they did in 2021 with a staggering high cost of living and more than 70 pc poverty levels coupled with a crippling youth unemployment scourge.
He gave a startling example from Katete, “we found an incomplete fruit processing factory here in Katete commenced by the previous government abandoned by the UPND which is doubly sad because if it was functional people would have jobs and poverty would be non existent but instead we are hearing boasting over reserves in the midst of poverty.”
Nigeria for instance once had hefty foreign reserves but motorists still lined up for gasoline at fuel stations.
Mundubile is gearing up to what resembles a two horse race with President Hichilema and many pundits say Mundubile is likely to win the presidency in August due to many broken promises by the UPND.
Ends.
Source: BM8 Media Team.