HH ENGAGE CHINA BEFORE ECONOMY MOVES FROM BAD TO WORSE – MUNDUBILE
Lusaka, Saturday (March 4, 2023)
Leader of the Opposition in Parliament Brian Mundubile says the Zambian economy has reached a desperate point where things can only improve if President Hakainde Hichilema physically meets his Chinese counterpart Xi Jinping
Mr. Mundubile who is also Patriotic Front – PF Presidential Candidate said China would play a key role in debt restructuring.
“I want to once again call upon His Excellency the President of the Republic of Zambia, Mr. Hakainde Hichilema, to consider visiting China soon,” he said.
Mr. Mundubile said it was now clear that the UPND would not admit it but that things were not going as they planned.
He said Zambians would recall that each time Finance Minister Situmbeko Musokotwane spoke, whether on the Floor of the House or outside, he kept on assuring the Nation that the moment Zambia signs the IMF deal, most of the challenges the country was facing would be a thing of the past.
“But things are moving from bad to worse in the economy,” he said.
Mr. Mundubile cited unstable exchange rates where the Bank of Zambia had to intervene in coming up with policies to suppress the currency.
“The way forward is that the process of debt restructuring should be expedited and that cannot be done without the help of China,” he said.
The Leader of the Opposition in Parliament said the fact that Zambia started by ignoring China or relegation in the developmental agenda, there was need to strengthen diplomatic ties with China and that could only be done at a higher level.
“His Excellency the President, should he, himself, travel to China. At this stage he cannot send an envoy to go and speak to his Chinese counterpart. He, himself, should negotiate with his counterpart to see how best China can help us restructure our debt going forward otherwise the suffering of the Zambian people will be getting worse by the day,” he said.