Blessings Kafwanka’s take on the IMF loan
He writes: The PF government spent USD$5m on Lazard Freres to provide advisory services regarding liability management for Zambia’s debt portfolio.
They spent another US$452,897.36 (£333, 403.54) on Highgate Advisory Limited of the United Kingdom, as communications advisor for our debt portfolio. Nothing came out of all that
Today, the UPND government, within a short period of time, has successfully engaged our creditors directly for debt relief and successfully clinched a deal with the IMF without spending huge sums of money on consultants.
President Hakainde Hichilema has exceeded our expectations by far. This is the change we advocated and voted for. The fundamentals look great. Single digit inflation, stronger Kwacha and positive economic prospects.
We should expect our ratings to improve across all international rating agencies such as Moody’s investor service, Fitch ratings and Standard and poor’s credit rating.
Indeed, the light at the end of the tunnel has been turned back on. S