ZAMBIA’S DEBT HAS INCREASED BY ABOUT $2 BILLION IN UPND’S ONE YEAR IN POWER- Fred M’membe

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Fred M'membe

ZAMBIA’S DEBT HAS INCREASED BY ABOUT $2 BILLION IN UPND’S ONE YEAR IN POWER


While in opposition, the UPND leadership promised not to acquire further debt. But today, Zambia’s external debt has quickly increased by about $2 billion in just one year of the UPND leadership in government and the prices of essential commodities – fuel, electricity, bread, mealie meal, transport, etc – remain unbearably high for the majority of Zambians.


What we have not seen, as they promised, is increased job creation in the private sector. What we are not seeing is an economy that is driving a robust industrialisation agenda to increase manufacturing and job creation especially in the agriculture sector.


Borrowing money for consumption to run our economy is not a sustainable solution at all. Think about it really, for how long will we borrow? If we borrow $2 billion or more every year, how much debt will this country have by the time UPND leaves office? What Mr Hakainde Hichilema is saying in this clip is not what he promised Zambians. This is surely not the way to run a country.


Fred M’membe
President of the Socialist Party

5 COMMENTS

  1. Mmembe first allow me on your behalf to congratulate HH7 for allowing servicenen to get their whole UN allowances deduction free. Secondly allow me to praise the UPND government for awarding a salary increment to civil servants. Sir , knowing you as a man who never sees any good in others i know this trivial criticism is a desperate attempt to hide from the good news of the day. Sir i know its always difficult for you to honestly praise others but allow me for this once to be your spokespetson and on your behalf congratulate and praise the hardworking UPND government. S

  2. Fred, show the evidence and show the backup to your BS claim. If you can’t then just shut that hole in your face.
    Accept that UPND are governing better than your wildest dreams.

  3. Winter Kabimba’s allegations against him goes unanswered. He needs to be transparent now before stepping up.
    By the way, we are yet to see a stepped up gains in terms of electoral wins. Last by elections, 22 across the country, they never got close. Could it signs that Zambians are not appreciating the type of politics you are practicing? Hatred every day?

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