I PERSONALLY CAN’T CELEBRATE THE $1.3BILLION IMF BAILOUT BECAUSE I HAVE NOT BEEN TOLD WHAT IS ATTACHED TO IT, MAY BE IT’S A DITCH- STEVE CHUNGU.
Former member of parliament for Luanshya Central Constituency Steve Chungu has described the most talked about $1.3billion international monetary Fund-IMF bailout for Zambia as the trap for the economic development of the country.
Mr Chungu argues that for as long as the zambian citizens have not been told the conditions attached to the bailout, it is worrying and that there is nothing to celebrate about because we might just be taken into a ditch.
Mr chungu says zambia has been on that path before citing that in the MMD regime the later former minister of Finance Ronald Penza was very much celebrated by the whites because they benefited when the similar action was taken but zambia got nothing apart from loosing companies through privatization.
He expressed fear further predicting that there will be loss of jobs, privatization of some companies among others, just like it happened in the past adding that Zambians are yet to see the waste of their times.
Mr Chungu notes that the government would have done better by ensuring that it gets taxes from the mines and other locally generated avenues as opposed to getting the IMF bailout.
Mr Chungu made his remarks in an interview, following the announcement by the IMF managing Director Kristalina Georgieva that the board had approved the program for Zambia to the tune of $1.3billion.
Cue in…..Chungu steve
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