HH’s IMF BAILOUT LOAN is a Total Scam
It is unfortunate that our kwacha has depreciated further to K17. 11 per $ just a few months after the IMF LOAN which they claimed will fix the Economy.
UNFORTUNATELY this is just the beginning of IMF’s destructive conditionalities which we warned about. Next is constrained expenditure in Agriculture and Health as we are witnessing already. The IMF has never reformed. It is as cancerous as it was when it destroyed us in the 1990s but President Hakainde Hichilema has chosen that path because he does not learn. We should have NEVER gone to the IMF.
This depreciation has been exasperated by the UPND’s lack of fiscal discipline and populist expenditures which are not backed by productivity but IMF DEBT. Unfortunately this is just the beginning of suffering as a result of visionless leadership.
It’s time to wake up up. The WEST or East can not lend you development through debt. There is nothing like bailout from IMF. It is a scam.
The only true development is from maximum utilisation of our natural resource endowments. We have arrable land, great farming climate, gold mines, emaralds and Copper mines which we are not utilising but rushing to borrow because we are lazy and over dependent on foreign assistance.
Wherever we want to go our feet shall take us there.
Kasonde Mwenda C
Economic Freedom Fighters-EFF President