SOLUTION TO ZAMBIA’S ECONOMIC DIFFICULTIES DOESN’T LIE IN IMF, ARGUES M’MEMBE
Socialist Party (SP) president Fred M’membe says those in power today should not blame anyone for the political fallout that is coming as a result of implementing a “dreadful IMF deal”.
He says the lasting solution to Zambia’s economic difficulties does not lie in the IMF.
Dr M’membe said the government was warned that it was just a matter of time before Zambians realised that there is no future in the past as IMF has not worked for the country.
“Those in power today should not blame anyone for the political fallout that is surely coming as a result of implementing a dreadful IMF deal. They made a lot of noise about the IMF loan. They sang hymns of self-praise for securing the bailout and attempt to drive out any reasonable voice that warned about the adverse consequences of the deal,” Dr M’membe said.
“We warned that it was just a matter of time before Zambians would realise that there is no future in the past. We have been on this route before and it has not worked for us. It is not the first time Zambia has gone to the IMF.”
He recalled that UNIP under Kenneth Kaunda and the MMD under Frederick Chiluba went to the IMF which exposed the country’s incapacity to govern itself.
“UNIP under president Kenneth Kaunda went to the IMF in the 1980s though KK was quick to abandon the Bretton Wood institution after they failed to answer his famous question: ‘are you able to design a programme that will not require me to kill my own people?” he noted.
“The MMD under Frederick Chiluba went to the IMF in the 1990s. The MMD under Levy Mwanawasa went to the IMF in the early 2000s. Where have all these previous IMF deals left Zambia? They have simply exposed our incapacity as a people to govern ourselves.”
Dr M’membe wondered if it made sense for the country to subcontract the running of the country’s economy to the IMF after gaining independence.
“The greatest beneficiaries of IMF bailout programmes in Zambia are usually the same forces: Western companies, South African finance capital and the local businessmen connected to those in power,” he said.
“These forces are usually the ones who buy our state-owned enterprises at cheaper rates on the pretext that they are making losses. It is not different this time. The poor are been hit hard. The workers are being hit hard. Our people are crying for help.”
Dr M’membe recalled that when in opposition, UPND told people that the reason state enterprises were making loses was because of political interference.
“Companies that even Chiluba refused to privatise under any circumstances such as ZAMTEL and Zesco are this time likely to be sold to their business associates or the western firms. For years, those in power today told us when they were in opposition that they are very good at business; that the reason why state enterprises make losses is because of political interference from the ruling party and the politicians in power,” he said.
“Now that they are in power themselves, what will be their excuse for selling state enterprises since all they need to do is stop interfering in the operations of Zesco or ZAMTEL and appoint competent people who can run such companies professionally and like private entities?”
He reiterated that the lasting solution to Zambia’s economic difficulties does not lie in the IMF but in the collection of fair and adequate revenue from the mining sector.
“But those in power today are quicker to listen to the IMF and remove subsidies on farming inputs even when the US and other Western countries still subsidise their own agriculture industry,” said Dr M’membe.
“We repeat: the lasting solution to Zambia’s economic difficulties does not lie in the IMF. It lies in the collection of fair and adequate revenue from the mining sector for support to secondary industries such as manufacturing. It lies in the development of the arts, a hugely important industry that those in power today have reduced to a footnote in a ministry! It lies in increased state investment to social sectors such as education and health.”