Monday, May 20, 2024

JCTR seeks breakdown of use of US$750 million Eurobond

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The Jesuit Centre for Theological Reflection (JCTR) has challenged government to clearly explain how the US$750 million Eurobond money has been utilized.

JCTR Director Fr Leonard Chiti has told Qfm in an interview that while Zambians have been told that some of the money had gone towards road infrastructure development among other projects, there is need to give a breakdown of how the money has been used for the person on the streets to be able to understand.

Fr. Chiti says Zambians have not seen anything tangible on which the $750 million Eurobond money has been used despite hearing of institutions that benefited from allocation of the money.

He says it is unfortunate that government went to Parliament to seek approval of the increase in the debt ceiling even when the Eurobond money has not yet yielded any results.

Fr Chiti adds that this leaves many Zambians wondering whether government is borrowing money to finance national development or borrowing for their own good.

10 COMMENTS

    • Even if the breakdown is given there will be no way of telling the authenticity of the figures. Part of the money has been siphoned to the party and individual through single sourced contracts.

  1. YES, THATS RIGHT!!!!!ACCOUNT FOR THE EUROBOND….SATA AND Esther Phiri’s husband are runnning RDA without a board,,,,,balebula pofye kwati mataba. this govt is already the worst Zambia has ever had

  2. not only JCTR wants to know, even me as a tax payer, who will have to bear the cost of paying back, is interested to know how the money has been used. has it gone into the politician’s pocket as we are told that they have increased their salaries three times just this year

  3. But I thought thats how it works…. I mean dont they do that at a certain point disclosing how the loans have been spent as well as the break down of the allocated funds to all Budgeted projects? Maybe I put up a scale to high for my country?

    • You put the scale too high for PF. Where in the world have you ever heard of an organisation as huge as RDA that oversees billions of Kwacha worth of projects being run by a president and a known hooligan from Kitwe whose education is barely humble, battered his ex-wife and generally roughed up citizens in Chimwemwe, with no Board to offer checks and balances. Two people Cindy and with that kind of money at their disposal. Would you say that kind of arrangement bespeaks transparency?

  4. JCTR are hypocrites. You cant father a son and expect that son not to take after you. The Roman Catholic institution alias church gave birth to our all evil political parties, like they did to Islam and communism. How did their sons (terrorist Islam and Communism) become evil if they did not take it after their father?

    Leave PF alone. For now sort out your sexual assault cases against innocent boys and girls.

  5. JCTR are hypocrites. You cant father a son and expect that son not to take after you. The Roman Catholic institution alias church gave birth to all evil political parties, like they did to Islam and communism. How did their sons (terrorist Islam and Communism) become evil if they did not take it after their father?

    Leave PF alone. For now sort out your sexual assault cases against innocent boys and girls.

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