WE ARE CELEBRATING ACQUIRING A LOAN, SAYS SICHINGA
Former commerce minister Bob Sichinga has described the $1.4 billion IMF facility as a “bridging thing”, saying the country should not be celebrating acquiring a loan when the money can easily be raised through ownership of the mining industry
Speaking with Daily Revelation, Sichinga said the Zambian people have still not been told what the $1.4 billion IMF facility is intended for, and neither does parliament know.
“Is it for recurrent expenditure? Is it to reignite, stimulate the economy? And if it is, in what areas? Or is it to be used to service the debt?” Sichinga wondered.
He demanded that the government open up and state clearly how they intended to use the facility, adding that the bigger problem that also needed to be addressed was how to deal with the rest of the challenges going forward as the country had a deficit situation on the budget.
Sichinga said just the other day, the government t passed a supplementary budget, saying according to Finance minister Dr Situmbeko Musokotwane, the money was received from the lenders which was due last year but it arrived late, saying that that did not remove the deficit that is accumulating… http://dailyrevelationzambia.com/we-are-celebrating-acquiring-a-loan-says-sichinga/