Msoni calls for responsible lending to Zambia

Opposition All People’s Congress (APC) president Nason Msoni has called for responsible lending by lenders to purported irresponsible borrower countries such as Zambia.

Mr. Msoni says his party holds the position that there must be a level of mutual responsibility between the borrowing country and the foreign lending institutions.

He has told Qfm News that his party’s position is in view of revelation by government that Zambia’s current external debt has now reached US$ 4.7 billion.

Mr. Msoni notes that by all means his party does not think that contracting such a huge debt in a short period of time represents any prudent economic management on the part of Patriotic Front government.

He says the manner and style in which the country is now contracting foreign debt is frightening and worrisome and therefore calls for responsible lending on part of the lenders.

Mr. Msoni states that Zambia cannot sustain such kind of borrowing by the PF government owing to the fact that the borrowed money is allegedly only manifested in the shopping malls that are sprawling up countrywide.