Q FM Africa's Modern Radio
The Civil Society for Poverty Reduction (CSPR) has implored government to develop a robust debt management system to prevent the country plunging in economic turmoil.
CSPR Executive Director Patrick Nshindano has told QFM News in an interview that it is worrying that the country has no robust debt management system.
Patrick Nshindano
Mr. Nshindano states that his organization is on record encouraging government to manage debt well before the country is faced with serious challenges pertaining to debt management.
He notes that the country’s debt is seemingly unsustainable hence the need for the government to indicate how it will repay the loans it is acquiring now.
Mr Nshindano says the current repayment of debt as indicated in the 2015 National Budget in terms of interest repayment stands at 11.8% which is much higher than the allocation to key sectors such as health and social protection.
He since called on President Lungu to consider reducing his Cabinet as well as address the huge wage bill.