The IMF and the official creditors have rejected the deal Mr Hakainde Hichilema’s government entered into with the bond holders as “too generous” for them to accept.
“Generous” already means in excess, but they say “too generous”! What does it mean?
This just means the bond holders were planning to make a killing at the expense of poor Zambians, and the official creditors firmly rejected this.
But this raises some very serious questions:
- Now, how does Mr Hichilema’s government go and negotiate “too generous” terms when the required, sustainable debt, terms are known?
“BOND REWORK DEAL TOO GENEROUS”
What caused or motivated Mr Hichilema’s government to do this?
- What can be done to get the bond holders back on the table to accept the required sustainable debt terms, i.e., deeper discounts, lower interest rates, and extended repayment terms?
Dr Fred M’membe
President of the Socialist Party