The Evangelical Fellowship of Zambia (EFZ) says Government’s appetite for borrowing will have its own future consequences.
EFZ Executive Pukuta Mwanza told QFM News in an interview that the EFZ is concerned that government does not want to listen to the advice from the people of Zambia with regards borrowing.
Reverend Mwanza said the fact that the borrowing limit was increased does not mean that government should borrow any time it feels like.
He said government has frequently been advised by the people of Zambia and the relevant stakeholders to borrow only for urgent needs and not anyhow.
[pullquote]the people who are borrowing now will not even be there when it is time to pay back the loans[/pullquote]
Rev Mwanza pointed out that the borrowing of US$1.25 billion Eurobond shows that government does not listen to its people and is doing things just as it wishes despite the people cautioning government on certain decisions.
He noted that much as the people of Zambia are in need of infrastructure development, borrowing is not the solution, but that some of the infrastructure projects can be funded using internal revenue.
He said what needs to be done is to strengthen the country’s internal revenue mechanisms, stating that the country cannot be surviving on borrowing.
Reverend Mwanza further said that what is even more worrying is that the people who are borrowing now will not even be there when it is time to pay back the loans, therefore being unfair to the young people who will have to pay back.
Imwe ba Mwanza, by saying that “the people who are borrowing now will not even be there when it is time to pay back the loans, therefore being unfair to the young people who will have to pay back,” are you referring to ba Chikwanda? Mwaishiba shani ati tabakabeko?
Ba Kote ba Chikwanda.
PF borrowing without any plans how the money will be repaid is simply stealing food out of our childrens mouths!
If they were transparent and told us how this money was being spent we would see this, but they hide it from us. Like the US$193 million that they say is “classified” because it is for “defense”. Lies. Zambia is not at war. We are friends with all our neighbours.
This money is just being STOLEN, and the toothless Auditor General and the people of Zambia are loosing out.
Chikwanda if he will be there he will just be cabbage without memory.
Apparently he is having a lot of difficulties even to blink his eyes what more 20 years from now?
They need to be considerate of future generations. They should not have to be the one’s dealing with our mess. Everyone’s borrowing even Minister of Commerce and Trade Margaret Mwanakatwe is borrowing. The Zambian Women’s Lobby is crying money or borrowing and this is the culture we are creating. Only issue is who will pay it back and when. There is a solution to this, educate your people and put it on your priority list. Educated people benefit a nation and society than the one’s who have not completed it or have not had it. Developed worlds do well because they educate their people and even while working provide courses to keep up with the ever changing technology. They also don’t have presidents lasting over decades which is great because they get a taste of different leaderships.