Katele okays increased debt ceiling

Former Finance Minister Katele Kalumba says the approved increase in the debt ceiling from K35 Billion to K60 Billion does not mean Zambia will have to borrow to the limit of the ceiling.

Dr. Kalumba explains that what Parliament has done is to give the Minister of Finance Alexander Chikwanda room to maneuver around.

He has told Qfm News by telephone that Zambians should appreciate that the major infrastructure projects government has embarked upon in country require some room to maneuver.

Dr. Kalumba states that this therefore entails that unless the infrastructure projects are completed, productivity in the country might be affected negatively.

He has implored critics to be balanced in their assessment of government’s decision to increase the country’s debt ceiling.