Q FM Africa's Modern Radio
PAC President Andyford Banda
People’s Alliance for Change (PAC) President, Andyford Banda says the move by President Edgar Lungu to request Turkey to help Zambia repay the $3 billion Eurobond is an indication that Zambia is likely to default.
During bilateral talks with his Turkish counterpart at State house over the weekend, President Lungu revealed that a Turkish company has offered to help Zambia repay the loan.
But Mr. Banda feels this is a wrong move taken by the government.
He says if the Turkish firm will help Zambia to refinance the Eurobond, it simply means that the country will pay interest twice for the same bond.
Mr Banda adds that this is an indication that government has no capacity to repay the bond.