FROM ONE CHALLENGE TO ANOTHER
The problem with our economic managers is “Horizontal Thinking”. They think in one direction and not laterally. In their minds, once Eurobonds are re-issued, then the credit rating will improve. There are many factors that credit agencies look at, including country’s general landscape.
Right now, the country is engulfed in political upheaval and is tense politically. Rating agencies have taken note of this occurrence. Aside from debt, the economic landscape is in the negative with high cost of living, which has a potential for civil unrest. Prolonged load shedding is negatively affecting business.
Low crop harvest has the potential to exacerbate inflation and exchange rate risk. New external borrowing, even if we say it’s concession borrowing, is nonetheless increasing our foreign debt exposure and increases the probability for future default.
Revamping of mines and increased copper production is a medium-term initiative and will not have an immediate impact on our economic challenges. Key immediate positive economic measure is revising the generous mining tax waivers.
So, under such conditions, would you really expect an improvement in our credit rating?
Fred M’membe
M’embe sometimes learn to be patriotic.Yours is to condemn literally anything.Those are not checks and balances boyi
Fred, political upheavals you are talking about is your own dream.Zambians know too well what is good for them.The noise you try to make is not audible enough because it doesn’t make sense at all.Your submissions are always below par if not childish.If any thing you are talking without saying any thing.Let the able leadership of UPND government work.Dont disturbed men and women at work.
Fred M’membe is a desperate and unpatriotic person for him to allege that the country is engulfed in political upheaval and is tense politically. His reasoning and articulation of matters is questionable and below par. Fred M’membe a tax invader and dishonesty person should just keep quiet because he talks about things which are opposite to reality and happenings in Zambia.
His negative statements and exaggerated talk is meant to fuel political tension and disunity in Zambia. His cheap politicking and propaganda exposes his foolishness and political mediocrity.