Q FM Africa's Modern Radio
Father Leonard Chiti
The Jesuit center for theological reflection (JCTR) says the rise in the country’s debt stock is unsustainable for the country’s economy.
JCTR Executive director Leonard Chiti has told Qfm that government should engage the citizenry and explain how and why the country’s debt stock has increased to US$7.2 billion from US$6.9 billion in December, 2016.
Fr. Chiti says it is unfair that the public is in most instances not informed on when and why new loans are contracted.
He has since government to be prudent in the manner in which it accrues external debts.
And Father Chiti says government’s continued borrowing has become a burden on the society.
He says there is need for government to work towards establishing stringent resource avenues to reduce on borrowing.
Father Chiti says dependency on borrowing to sustain the country’s economic and development agenda is not sustainable.
He has also advised government to approach the IMF bailout package negotiations with caution.