Q FM Africa's Modern Radio
Blessings Kafwanka
Business and Financial Analyst, Blessings Kafwanka says the cancelation of pipeline debt and already approved loans by government will ease the fiscal pressure that has been exerted on the resources.
Last week Finance Minister Margaret Mwanakatwe disclosed that President Edgar Lungu has ordered cancellation of some existing loans, banned the issuance of letters of credit and guarantees to state owned enterprises, terminated financing of development project that are below 80 percent completion and cut down on ministerial travels with immediate effect.
Mr. Kafwanka tells QTV Business News that the austerity measures announced by the government will help sort out some of the fiscal challenges the nation has been grappling with.
He notes that for some time now, the people of Zambia have been calling on the government to provide a roadmap on how the debt the nation has contracted will be dismantled.
He is it is pleasing that the government has been able to share with the nation its roadmap which he says is commendable.
Mr. Kafwanka has however, urged the government to follow up all the cases that were cited in the latest Financial Intelligence Centre financial trends report even if the dissemination was not done in a proper manner.
He states that for the nation to preserve its resources, it is imperative that action is taken on such activities.