NOELNKHOMA RESPONDS TO EMMANUEL MWAMBA’s LIES TOLD TO THE NATION.
26th November, 2023.
Emmanuel Mwamba should learn to tell the truth to the nation. One wonders what he thinks about the Zambian people when he issues statements that he knows too well are not true. At least show some respect to the people you communicate to.
Below are some of his lies told to the nations
1. Emmanuel Mwamba lies that PF Government left $3billion foreign reserves.
The Truth is : This is factually incorrect. Under Dr Situmbeko Musokotwane, MP then as Minister of Finance and National Planning under MMD administration, foreign reserves inherited by PF stood at appr. $3.5 billion. Upon leaving office, PF left $1.3 billion in foreign reserves. The narrative being peddled by Amb Mwamba includes a disbursement of $1.3 billion by the IMF as pandemic intervention under the Special Drawing Rights (SDR). This was Zambia’s share of the total of $650 billion global pandemic support fund under the IMF.
2. Emmanuel lies that PF completed the debt sustainability initiative with World Bank and IMF that prepared debt restructuring (hence appointment of Lazard who begin talks with commercial creditors including Eurobond holders and Government began debt talks with China.)
The truth is: First Amb Mwamba must address is why Lazard was appointed? Because the lenders i.e. both the Official Creditors and the Bond Holders did not trust the PF administration and questioned the integrity of the figures of the total debt quantum. Simply put, Lazard was appointed at the insistence of the IMF to bring credibility to the process. Lastly, a debt sustainability analysis is nothing but a simple exercise to demonstrate that Zambia’s debt was unsustainable. And this is surely not a record to be proud of Amb Mwamba.
4 Emmanuel Mwamba lies that: PF left 1.5million metric tonnes in maize grains strategic reserves.
The Truth is : Yes and you left the poor peasant farmers with Promissory Notes and the nkongole had to be paid by the New Dawn Administration in the first year of assuming office. Is this a record to be proud of???
5.Emmanuel Mwamba lies that : PF did all the major infrastructure last seen in 50 years in clinics, health centers , mini hospitals, district hospitals, teaching hospitals, schools colleges and Universities.
● Dams
●Airports
● Township roads
● Power stations that have ended loadshedding.
The truth is ; at what cost to the Nation? A debt crisis that has driven the majority Zambian’s to abject poverty. An infrastructure programme riddled with industrialised corruption. By the way, Synohydro abandoned the Kafue Lower Gorge project upon ZESCO’s failure to settle $1.2 billion outstanding IPC’s with only 2 generators installed out of 6. The New Dawn Administration resolved the debt through ZESCO’s internally generated resources and completed the works.
6. Emmanuel Mwamba lies that UPND is accumulating more debts than PF ever did.
The truth is ; confessional loans @ 1% interest and not PF’s Kaloba at 30% yield rate
7 Emmanuel Mwamba lies that : Zambia has been downgraded to a lower income country.
The truth is ; This was based on 2020 data and this was under PF corrupt administration
@ The Falcon