Q FM Africa's Modern Radio
Action Aid Zambia is demanding an end to reckless borrowing for what it terms as selfish personal, partisan and cronyism interests.
Executive Director Nalucha Ziba says there is need to instead improve the public finance system with respect to mobilization and utilization of public resources.
She says the current barrage of policy pronouncements and mindless borrowing the country has been subjected to by government must come to an end.
Ms. Ziba says Action Aid is also demanding that government makes available a comprehensive report pertaining to the utilization of funds from the three Eurobonds.
She says failure by the government to properly account for the previous Eurobonds will be a violation of the Zambian people’s human rights.
In a statement, Ms. Ziba says generations to come will have to bear the cost of debt servicing which will have disastrous consequences on the country’s social and economic prospects.
She adds that the level of public resource wastage in the public service does not justify borrowing more resources to invest into a dis-functional public finance system.
She says the recent revelations by the International Monetary Fund (IMF) regarding Zambia’s huge debt burden is fertile grounds for citizens’ concern because these revelation typically echoes the concern by the myriad of domestic stakeholders that include civil society, who have for long time called for an end to irresponsible borrowing by the state.