Q FM Africa's Modern Radio
CTPD Head of Programs and Research Brian Mwiinga
The Civil Society Poverty Observatory Group has challenged the government to tell the nation the exact accumulated total of the Chinese debt.
Speaking during a Civil Society State of the Economy media breakfast in Lusaka, Center for Trade Policy and Development (CTPD) Head of Programs and Research Brian Mwiinga whose organization is a member of the observatory group notes that there is a lot of secrecy when it comes to the Chinese debt.
Mr. Mwiinga has also noted with concern that before the PF took over office in 2011, they found Zambia’s debt at US$3.5 billion, but that the debt has now risen to US$8.7 billion.
He says this means that the PF Government has borrowed US$5.2 billion since they came to power.
Mr Mwiinga adds that from the two statements given by former Finance Minister Felix Mutati last year who told the nation that Zambia’s debt was US$7.2 billion and the latest one given by Finance Minister Margaret Mwanakatwe who has disclosed that the country’s debt stands at US$8.7 billion, it means that the government has borrowed US$1.5 billion within a year which he says should worry the people of Zambia.
Civil Society Observatory Group Chairperson Chenai Mukumba
And in her welcoming remarks, Civil Society Observatory Group Chairperson Chenai Mukumba says Zambia’s debt is part of the reasons why the International Monetary Fund (IMF) halted the economic bailout support program.
NGOCC Executive Director Engwase Mwale
Speaking at the same event, Non Governmental Organizations’ Coordinating Council (NGOCC) Executive Director Engwase Mwale says it has become imperative for Zambia to step up its domestic resource mobilization efforts with the aim of overcoming aid dependence, easing financing constraints and enhancing economic growth aspects.