” GOVT HAS MADE UNPOPULAR DECISIONS”
March 30th, 2023
LUSAKA – President HAKAINDE HICHILEMA says his government has made some difficult and unpopular decisions in order to restore the country’s credibility.
President HICHILEMA says since taking office in 2021, his government has undertaken reforms in anti-corruption, transparency, and management of public funds.
He says debt restructuring has proved to be complex because it involves talking to a variety of creditors who include multilateral institutions, countries, private lenders and asset managers.
According to an article in the Washington Post newspaper in the United States of America, President HICHILEMA says despite the reforms Zambia has undertaken, the format to restructure debt is proving to be cumbersome and bureaucratic.
He says the delays are putting pressure on the local currency and prices are going up.
President HICHILEMA says this is forcing the much needed international investment to be blocked.
(C) THE FALCON