CHISHALA KATEKA CONCERNED ABOUT GOVT’S RELIANCE ON IMF SUPPORT WITHOUT CLEAR ROADMAP FOR DEBT REPAYMENT
By Balewa Zyuulu
New Heritage Party Leader Chishala Kateka has expressed concern about government’s reliance on the International Monetary Fund –IMF’s- extended credit facility without a defined roadmap for debt repayment.
During the Monetary Policy Rate presentation, Bank of Zambia Governor Denny Kalyalya disclosed that despite the pressures, the central bank reported a modest increase in gross international reserves, rising from US$2.7 Billion covering 2.9 months of import at the end of June to US$2.9 billion equivalent to 3.2 months of import cover by the end of September, attributed to the second disbursement under the IMF extended credit facility and other factors.
Ms Kateka says it is dangerous to anchor the country’s economic growth solely on IMF support without a clear plan to manage debt obligations and worries about the country’s heavy reliance on the IMF-supported program to bolster international reserves.
She has pointed out that despite the significant debt burden inherited by the current régime; government had not adequately managed the debt issue to facilitate a rapid economic recovery.
Ms Kateka has since intensified calls for the formulation of a comprehensive debt management policy roadmap that ensures accountability and garners support from all citizens.
PHOENIX NEWS
Ohoo, Are you sure there is no roadmap? How did you know there’s isn’t one?
Just keep quiet. Where else can we go? To Russia or tax ourselves to death in order pay the reckless debt contraction by lazy Lungu? Just last week ZRA announced that Mopani and KCM ( both managed by GRZ/zccm-ih) have not been paying taxes. How can we ask FQM and Barrick to pay more taxes when the mines we run are failing to meet their tax obligations? PF and Edgar Lungu are the worst things that ever happened to Zambia. They need to spend time in jail.
It is very annoying to see every Tom, Dick and Harry from Nashala neka parties firing broadsides to people/current government who are actually doing something positive about this reckless debt crisis. None of you charlatans raised your voices when lazy Lungu was busy spending like in the movie Brewster’s millions. Except he hadn’t won a lottery, he was borrowing and he knew it wasn’t him who was going to pay back. Surely how irresponsible a head of state and his government be? I respect Nevers Mumba and Situmbeko Musokotwane. They raised their voices against the reckless borrowing at great risk to their personal safety. What government gasses its own citizens whom it swore to protect? Voetsek!!
Banakulu sure sure ecl and the team when they were doing their things , you were very quiet now today today kkkkkkkkk you want bally to correct the mess which was caused PF with in 2 years kkkkkkkkkk mulekwatako insoni , insoni ebuntu mayo , nga mulefwaya bamipeleko invito kuli bally kulanda fye kkkkkkkk pakwana ubunga tapaba insoni mayo , elyo kabili balanda ati: akansoni kafwilile mwibala kkkkkkkkkk .Bally wakuleka fye mayo.