Reports that the PF government is considering issuing another US$1 billion international Eurobond specifically targeted at the agriculture sector does not surprise us in the UPND because we still insist that the current regime has no capacity to generate revenue from local resources.
But what is now becoming reckless by the PF is that we seem to be moving to a situation where every sector or government ministry will now be borrowing for its operations.And what is even more worrying is that the latest Eurobond also earmarked before this year, comes at a time when the other US$1 billion amount borrowed for this year has not even been exhausted.Besides, PF has to date not fully accounted for the first US$750 million they borrowed in 2013. There is evidence that the borrowed money did not fully benefit the nation.
[pullquote]Zambians, especially the younger generation, should by now know that PF government has basically consigned them into slavery for years[/pullquote]
Therefore, there is no assurance that the money PF government intends to borrow for the agriculture sector will be used for the right purpose as it is normally used for personal benefits through corrupt contracts to friends and relatives.
We in UPND believe that with a responsible government, agriculture, if well managed, is capable of generating its own resources for reinvestment in the sector.In fact, it even makes more sense to us if the huge chunk of the first Eurobond was targeted at the agriculture sector, than some of the projects that have no potential whatsoever to contribute to the repayment of the loans.
Zambians, especially the younger generation, should by now know that PF government has basically consigned them into slavery for years to come due to another debt mountain that other people sacrificed to dismantle.We advise President Michael Sata and his PF government to please restructure government and set priorities right so that they generate and make use of domestic resources rationally and wisely.
As UPND, we can demonstrate that the continuous borrowing is not because there is inadequate domestic resources to finance the budget, but the PF government is also top heavy, wasteful, and lacks planning. That’s why in UPND, we have been calling for a new constitution that will provide strict parliamentary oversight on borrowing and usage of such and other resources.
Hakainde Hichilema
UPND president
zonda uzalema mr bwetubwetu mabisi
I like him but he is stooping too low here,
the statement was unnecessary.
We want to hear from the acting president thats alll
Thanks
Ba Kanyankula be informed and discuss issues. We are all part of zambia and problems that come with kaloba will chock everyone who is zambian. Kindly read books on economics. i recomendy Economic Hitman check it on Amazon .com then comment not this madness you are showing here.
The pedestrian politician talks in generality, vague, abstract, indefinable, conceptual and nonrepresentational form….and he wants Zambians to vote for him…..IMPOSSIBLE!!
Anyone can say what you have said about domestic resources to finance the budget but it would be more interesting if you were specific on your plans if you have any.
I am sure if you had alternatives your popularity would have soared to unimaginable proportions by this time just like it happened with PF in opposition.
Yes times are tough but people still have the confidence in in PF, taking development to all corners of the country
this 1diot kanyasula is talking from the states. dear 1diot, be reminded that a lot of your relatives are with us here in zambia bearing the cost of incessant borrowing. do you even send them anything, I wonder
Only Help and Hope (HH) makes sense of all the politicians. Zambia is like that because Zambians have chosen to be led by liars, crooks, hyenas, snakes, etc. Zambians only have themselves to blame.
We have an opportunity to usher in right people but I wonder why we always end up with wrong people at plot 1.
HH makes more sense to me than any of the politicians available on the political front in Zambia today.
Kanyankula, you need to wake up now. Go to proxite.eu, type Zambia Reports in the bottom space provided and read about what contracts H.H is talking about and who is benefiting from those contracts. You can even download bank statements for you to see the names of the people stealing from you while you’re dreaming about mabisi. You’re the actual mabisi man, sleeping when Sata is still doing you a don’t kubeba, two years down the line. WAKE UP NOW!!!
The principle of life is: YOU REAP WHAT YOU SOW. Zambians have chosen to be led by unfaithful people and the problems happening in Zambia are due to Zambians themselves. There is what we call Franchise – The Right To Vote. You vote for a crook you don’t expect any good. You vote for a liar you don’t expect the truth. Thats the principle of life.
HH is possessed by evil spirits, uluse!
What is Zambias own Julius Malema saying this time?
That the Kwacha should gain to ZK 2 to a dollar?
With very few dollars available from foreign trade, where is Sata going to find Kwacha cover to pay government workers and do all the ambitious projects he has embarked on?
Only sad part is that I am paying as a worker & importer for all projects Sata has embarked on….instead of the donors.
Na menso kwati napepa ibange kaboke.
Like your mother when I was bonking her.
Borrower, lender neither be! If you borrow money from a man you make him your MASTER! If you lend money to a man you make him your ENEMY!
The will not have time to borrow the next Euro bond. The chief monkey is dead and in 90 days we will have a new government
This monkey in Australia is still stealing for the aboriginal farms
Well at least still alive not kicked the bucket
So, by your own admission, TheEngineer(Australia) writing from the USA, you’re a monkey!
I suppose it takes a monkey to identify another monkey – lol!!!
My friend, you may die before the man you seem to despise so much.
how can that happen when he his already dead?
Whether you like or not,a presidential by election is looming.remember that prominent people die in,April, May,July and August.they also die in twos.Liwewe is gone and next is…
The only good thing is that it would not be HH to lead this country though.
@5.1. So who will be president? Kabimba?
Let market determine saturation point. Any command ideology will aggravate the situation. The agricultural sector is the real destination of choice. Agriculture is followed by oil exploration.
Great. Can you explain how One Billion USD (that is 6,000,000,000 re-based kwacha) is going to be utilized and also how is going to be repaid?
I echo your sentiment Mr Hakainde. My only question for your organisation is; do you have an economic spokesman or shadow Finance Minister in your organisation? I would like to see some evidence of devolved responsibilities in your organisation as usually it is yourself or one of your spokesmen commenting on issues. In my opinion, the next Zambian president should demonstrate that they are backed by a credible team and not be a one armed bandit with ‘useless ministers’. #FreeOurKapiri2
There once used to be a spokesperson for someone by the name of Gorge Chinia. Where is she she?
Lets encourage the culture of borrowing without ever thinking of paying back.
after all ,these loans will be written off by the donor community…
sit back,enjoy,spend ,squander,steal etc its allowed in zed.
Great point kalindawalo,that’s life pa zed
I am very busy today calling hospitals and clinics in Israel with my Isreali colleague we have to find the old man.
HH is afraid of spending his presidency finding solutions on how to pay the debt back.
As well he should be. Afraid is not even the right word….he is concerned for the Zambian people in general. As an individual HH will be financially okay with or without PF Kaloba!
HH now is time to go into overdrive – highlight your current “shadow cabinet”, profiling each potential cabinet minister’s credentials and of course a road-map back to sanity ! THIS IS NOW A PENALTY SHOOT-OUT !! No more “have u heard”, time the hand to really REACH-OUT ! Foward!! The future belongs to Zambia and Zambia is OURS, ALL OF US !!
Go to the Ministry of Finance and get facts. No wonder you do not have support in Eastern, Luapula, Northern, Muchinga, Copperbelt, Lusaka and Central provinces. Wake up democracy is about numbers.
Democracy is about F.OO.Ls did you not see in 2011
We will borrow and borrow until Zambia is restored to its past glory. In your myopic view, you see yourself ruling after Sata. Happily you will never be anywhere near state house. You are a write off. Just continue entertaining yourself and your little flock with false prospects of ruling the country. This time around even many of the level headed people of Southern Province have seen through your sly behaviour and have forsaken you. Zambia is not up for grabs by nonentities like you.
Past Glory? Dreamer under influence?
Mubemba Inkonko what ever yu call yo self.Let me remaind yu that yu don’t own Zambia and that yu are not God to judge others.HH is more a man of high caliber,a father of decent children not children like kasimu,A hasband of one wife,not a hasband of many women .A God fearing man, with lots of pipo to take take care.If tribe is what scares yu ,let tell yu that yu are safer and HH than Kabimba,who are both Tonga by the way.We told in 2001 that vote for Mazoka but yu chose Mwanawasa,Mazoka was more suited to do more for Zambia than Mwanawasa,both of them were Tongas.Dont despute ILas,Lenjes or Saalas are tongas.so yu see we don’t just chose because one is Tonga but quality matters.Tongas voted for chiluba,so let tribe not be the yardstick for chosing Presidents in Zambia.Pry to God Jehova…
@Sido Mark, apart from your passage being strewn with typos and grammatical errors your writing and train of thoughts are brilliant. Work on your writing and and read through what you have written before you post and no doubt you will be contributing immensely to this community. I hope you have not just had a name change but you are genuinely new to this forum – then to you I say welcome!!
HH, currently there is no government in Zambia but a free-for-all maize field. Can you imagine a country where the whereabouts of the leader are a mystery even to his inner circle?
Was He whistling! or Talking! Guess the statement was whistled!
The day I saw PF celebrating the first Euro bond issue is the day I knew that they were clueless about what they were doing. Seriously if borrwing was really necessary, we have china and other multilateral banks to offer cheaper credit. PF just want easy money so they can chew without restrictions.
I protest at the lack of micro economic knowledge exhibited by PF cadres. The UPND leader has given a snap shot of the macroeconomic activity the nation needs to make use of the borrowed funds but what is obtaining is further borrowing without corresponding results to benefit Zambians.
This is a man that talks knowing that his time to reign is nigh!
well spoken, unlike this funny mushota chap that opens his bick and vomit on serious matters
THE BACKGROUND MATTERS BANE. IF U BELIEVE THAT WEALTH IS CREATED BY BORROWING AND CONSUMING, THEN U CAN SUPPORT THE pf (PURE FAILURE THEORY OF POVERTY SUSTAINABILITY.
the country has gone through the period of borrowing huge amount of money to dig statehouse tunnels it was normal for some Zambians because their eyes cannot go beyond their belly. “All this is poverty sustainability principles.”
on the other hand if you come from the background of production, you will accept that borrowing for production is sustainable as wealth is created. in this case, you may see sense in what HH is lammenting about.
In the past, I used to have a wrong notion that when a black man is educated in the Western World, he or she makes a difference but the likes of Mushota whose head is full of nothing but tribalism makes sad reading. Although she boasts of her good education,I would suggest that some one who has never stepped a foot in class from birth but wise far much better than her.
@general ulichisushi
Ndeloleshafye. Critics without solutions!
Let’s not listen to a bitch like Mushota. I guess she is being bonked by dogs whereever she is and no wonder such comments.
So most of the people posting pa LT on this issue it looks to me kwati tabakonkolapo
Hard time we have enough…