Home Economy IMF Bailout: A Strangulation of Zambia’s Future Economy IMF Bailout: A Strangulation of Zambia’s Future October 23, 2016 3936 46 Facebook Twitter WhatsApp Print Linkedin Email Viber Are you looking for quick help in buy college essay? Click here to get your paper written within the shortest time possible. [Read 39 times, 1 reads today]Related Posts:No IMF bailout for Zambia until after August elections-IMFAllegations that President Lungu bribed an IMF official to get bailout deal are outrageous-IMFZambia’s IMF bailout is inevitable-YambaZambia is still interested in an IMF bailout-GovernmentZambia still needs IMF bailout, Chinese loans not the solution-Trevor Simumba Loading... RELATED ARTICLESMORE FROM AUTHOR 50 % of copper production is no longer coming from the Copperbelt PF assured us that solar-driven hammer mills will reduce mealie prices to less than K40 Online Agro market launched 46 COMMENTS Thanks for the effort Peter Mubanga Cheuka, but remember once upon a time Felix Mutati and Situbeko Musokotwane once said Zambians could not understand a complicated financial transaction involving the sale of ZAMTEL to LAP Green. I don’t anything has metamorphosed in the Zambian brain to understand this IMF deal. 0 0 Don’t be so condescending of your own race! 0 0 What makes you think we dont understand the ramifications? Speak for your self and your family! 0 0 @patriot Just eat if your mouth is full!! Who is ‘we’?. Your comment is single, your dull cadre, even after being in Europe, you are still a stone thrower 1 0 Ndobo These PF theives know only to borrow then steal then dance dununa reverse then call for prayers and commissions of enquiry. Then borrow again. To them borrowing is the way to go 0 0 But we all wish zambian politician would have taken your advice but what are they going to steal,its all about theft and positioning there children to rule us either politically or from white chair. 0 0 Don’t blame the IMF. Blame yourselves. We warned you about the dangers of voting for SATA, the warnings were very clear. But you all got cheated by empty “More money in your pocket” slogan. The question is; are you all better off under the PF today than you were under the MMD government? 0 0 The second cartoon is wrong. The west now have black colonialists, like PF, who are controlling the poor under chains of a brutal Police Force. The West is no longer directly controlling Africa when there are PF stooges to do their dirty work. The IMF will tell you the same. Their program is a choice, it is not inevitable. The Eurobonds were a choice. Stealing the Eurobonds on $1.2m per km tar roads was a choice. But once you have taken the money, you have to repay it. Why don’t countries like Botswana that are not inhabited by idyots fall into this trap over and over, even when they were herding cattle and diamonds were not known about? I am sick and tired of this whining about “How Europe Underdeveloped Africa”! Don’t you dimwits learn! 0 0 Peter keep on crying. This is not Tanzania. Don’t bring rhetoric into our nation. Let us enjoy IMF and IMF is here to stay. 0 1 What hogwash! 1 0 Yes it’s time for dancing …dununa reverse…..music pleas….. 0 0 It’s not IMF that imposes itself. They only come when formally invited. The actual invitation begins when a country starts to mismanage its own affairs. In the case of Zambia, it was when Sata was ushered in with no real plan for the economy. We spent on redistricting instead of productivity. We opted lower taxes while increasing expenditure and hoped to bridge the whole with sovereign bonds. We warned you when you later voted in the visionless one. We warned you again when you danced Dununa Reverse. Now you can to us a cry about the impending in pain of the surgical blade? Don’t blame the doctor when you had unhealthy life habits. Shimpa bane Dununa Reverse! 0 0 It’s not IMF that imposes itself. They only come when formally invited. Like vampires? The fact is that the IMF is not some kind of passive participant. They represent the same family that owns De Beers and Rio Tinto. Do you really think that governments all over the world are just silly when they invite the IMF, or do you think a groundwork has been laid long in advance? Why do you think all politicians are indoctrinated with the neoliberal economic view of the world? Many of these neoliberals are just bagmen for whoever calls the shots. It’s called globalisation, and it is not a thing that is peculiar to Zambia or Zambians. 0 0 Yeah Dununa Reverse lets go… 0 0 It is easier for the PF to borrow because there are ways they steak from borrowed money. They do not want to creat wealth for the nation as this involves work and sacrifice and there are very few chances of stealing when we work for what we create. How do you think lungus account was $2.3 million in credit in 1 year while the rest of the country was in recession 0 0 “Should Zambia accept this IMF bailout, it is the elite politicians that should bear the burden of austerity measures.” And pigs can fly! PF has borrowed nearly TEN BILLION DOLLARS precisely so that they can steal as much as they can and live in luxury, not because they have the interests of poor Zambians at heart. Lungu has followed the Mugabe model closely. Before his time is up for sure we will see 1 million Dollar birthday parties while most of Zambia is only surviving on WFP food hangouts. But Zambians deserve this. They are too spineless and docile to stand up to the theft of State House by a rigged election when the evidence is there for anyone to see. 0 0 This Mulenga guy does not understand what he is talking about! It is pity people can write a lot on something they barely comprehend. There are a number of questions that beg answers; does the country have money to sustain expenditures on subsidies; how did we find ourselves on the queue asking IMF loan. The IMF is teaching to observe our fiscal limits and keep the expenditure within sustainable levels. Let’s not vilify the IMF. We know our leaders have been reckless in the past! 0 0 @Guy you are the guy that doesn’t understand. The answers to your questions are the very reason for our running to the IMF. Maybe a question to you Sir is, Are you currently running your home on KALOBA? If the answer is YES, then you need to change direction and get rid of that KALOBA otherwise, you ll live the rest of your life in financial slavery. If your answer is NO, then you have a better economy than the entire Zambian nation. Yes, the USA borrows but we need to grow our economy first to give it capacity to borrow. 0 0 Subsidies are being removed while middle men continue smiling. Wake up from your sleep dimwit! 0 0 THIS PF LEADERSHIP IS A SALE OUT TO MAKE ZAMBIAN PEOPLE REMAIN IN PERPETUAL POVERTY WHEN THEMSELVES POCKET A HUGE SOME OF MONEYS IN THEIR FAMILIES. YES NOW PF WHO ARE FOND OF INSULTS PLEASE COME ON AND EXPLAIN WHAT YOU KNOW OF IMF AND PLEASE DONT INSULT OTHERS WHO ARE SPEAKING THEIR OPINION. 0 0 IMF and World Bank should be banned from crossing the borders of Africa. They are nothing but mercenaries. They have never resolved any of our problems without a price tag. We need to finally get rid of foreign institutional aid and go back to the basics of self-reliance. We need to stop defining our development by standards dictated to us by the west. If we seriously focus on the following areas: improved transparency, increased management of our national resources, efficient application of funds and sustainability of infrastructure, the rest will fall in place. South Korea, Singapore and even Namibia have all had economic struggles but they have overcome them without the IMF and World Bank. They simply implemented the mentioned principles. If they can do it, so can we. 0 0 Yes, but they’re not imposing themselves on us. They never point a gun on any African leader to force them to sign the loans. It’s the PF government that invited them. This advice should have been directed to the govt; let them go and secure alternative loans if there are any. Those countries; South Korea, Namibia set their own course; they formulated their own economic policies which worked. For our beloved Zambia, the economic indicators were quite positive before 2011. All the gains have been reversed in the past 5 years. We can’t entirely blame external factors for the situation we are in. 0 0 ” …go back to the basics of self-reliance”. Surely do you really think that we have a leadership that can inspire us towards your wishes. The PF does not epitomize the kind of leadership of the countries you mention. 0 0 So where is the anti-neoliberal party which will reverse this nonsense? 0 0 This is just a lot of Rubbish. All. Of tries have cause to get loans from the IMF. Even USA, West are I debited to someone. Economic borrowing is a fact of modern economies. We the citizens have benefits from improved infrastructure, medical services from the new clinics and Investor friends to keep our main Industries running, imparting knowledge and earnings to labour. It’s about time UPND in particular and opposition start supporting their Gov’ts efforts to keep afloat. 0 0 Even white citizens in the West are Debt Slaves. That cartoon should show whites also in chains. 0 0 Patriot abroad. Yes most countries in the eest borrow but What you fail to mention is that those countries have strong manufacturing bases while zambia makes next to nothing and imports everything. Ati we benifit from investor friends, which investor’s have you seen since we paid for the most expensive roads in the world ? None zero Nada investor’s have come. The clinics you mention do not even have paradole. UTH remain a death trap with all floor space taken up by patients. 0 0 As for relocating the President to another house, what savings are you making??? After all the house has been already purchased since Independence and is for Presidents. Suggesting we buy ANOTHER, smaller statehouse is risible. One thing to note is how UPND and mediocre Opposition time and again attack the rights of the President elect . First a petition to remove him from office and bring in the Speaker. Now remove him from statehouse!! It’s clear there is spite and bile in the minds of the Losers. 0 0 Spaka, young man. Find another Patriotic outlet. EVEN here in the West, we don’t have enough Hospital beds. Going to see a specialist consultants is strictly by appointment and long wait. I am going to see an ENT specialist tomorrow and have been suffering waiting for the appointment over months now! Medicine IS NOT always available if the NHS do not think its cost effective, so if you need that medicine you have to go to court to prove why they must get it. Often by the time the court case comes up, the patient is beyond help. It’s just that Zambians think their problems are not experienced in the West, but that is wrong. It’s all relative! 0 0 Patriot you say it’s all relative , relative to what ? All the mortality rates of zambia compared of many countries tell a different story. 0 0 @Spaka Zambia does not have the highest mortality rate in Africa or the world. Most important the highest mortalities are from Road Accidents, careless sexual activities leading to AIDS, ALL of which can be avoided by the citizens by choice of careful behaviour mostly. You can’t blame the Gov’t for everything! 0 0 Only a vision less president leading a gang of thieves can blow $10 billion and same month it finishes run to the IMF like wet dogs to borrow some more. Know they are only going to the IMF because no one else will give them anymore mony. They have exhausted all avenues of normal borrowing after dancing dununa reverse. 0 0 @Spaka, just by the bye, how would HH, have circumvented the current circumstances? Wait…….by saying PF are to blame! Then going to IMF! Don’t dispute that because UPND HAVE BEEN IN PARLIAMENT( when they were not hiding from debate by staying away), and we have not heard of any alternative they have come up with! 0 0 Patriot. No one is disputing that PF left little alternative to going to the IMF but warnings were given when PF were giving them selves contracts for the most expensive roads in the world some times roads with no economic value. They spending went on. HH advised time and time again that some of that money should be used to kick start value addition and other industries. But all PF could say was sontapo…. You people think failing companies who replace their MD are foolish? 0 0 Patriot. No one is disputing that PF left little alternative to going to the IMF but warnings were given when PF were giving them selves contracts for the most expensive roads in the world some times roads with no economic value. They spending went on. HH advised time and time again that some of that money should be used to kick start value addition and other industries. But all PF could say was sontapo…. You people think failing companies who replace their MD are waisting their time because even new management will go the same route? 0 0 @Spaka please read 12.6, I want a come after I come back from evening worship. As for HH warnings, he needed to spend more time to teach his followers economics. Good Road Infrastructure is necessary for Industry. Look how many truck accidents have happen Dover bad roads in the last week. We needed to fix those potholes because it became too dangerous. We needed to connect remote provinces to Road Network so they too can be come part of the new Industrialisation which is our next pushing phase. Catch you later. Don’t be ignorant…..look at things correctly. 0 0 Patriot There is no next phase. PF is broke. They can’t even pay salaries. Most universities and clinics they were building and sontaring remain unfinished. 0 0 @Spaka the question is what would HH, UPND have done about it. It seems just point at problems is all you do. Never at solutions or Works. 0 0 He ar who feeds u controls u! 100% tru! Nothing was wrong to vote for Sata! The problem is the person whoz taken over coz he seems to b like a crying baby that gets taken&attracted by anything. PF lost its founding principle at the point the old man died coz he didn’t handover power properly! This IMF has Neva bn accepted by Mugabe coz it comes wt tight conditions that negatively affect the poorest! Hop no further privatization will b done as the rumor hitting around is stating! HH is no better! Hez actually gona b worse! He massively pocketed proceeds of privatization as keep change wt the former thief& President Chiluba who bcame Zambian BT originally was Congolese! HH would do nothing BT pick from where he left privatizing parastatals wt his massive experience in it! 0 0 None of the politicians are good to lead Zambians – Have you read the “Book titled: The Beaufitul Ones Are Not Yet Born”..! African writer series – not west – African. AFRICAN LEADERS – INCLUDING ZAMBIAN LEADERS ARE RECYCLED…! ZERO HOPE FOR ZAMBIA. HH HAS FAILED 6 TIMES – BWANA IT IS TELLING IN ITSELF THAT YOU SHOULD STAND DOWN AND SEE IF SOMEONE ELSE CAN TAKEOVER LEADERSHIP. IT WORRIES VOTERS TO SEE SOMEONE FIGHT FOR TOP OFFICE IN THIS MANNER. JUST LET IT GO AND LEAVE IT TO THOSE WHO HAVE NOT STOOD YET. yOU HAVE PROVED YOUR POINT, LET IT GO, LET IT GO, LET IT GO..! MAYBE YOU DO NOT APPEAL TO ALL VOTERS. 0 0 What do you expect from a leader who teases his own hard working farmers ati “ba kachema”, meanwhile he is enjoying t/bone on a jameson produced by kachema. Lungu amano yanono. 0 0 You can’t eat your cake and have it.It’s either you continued with potholed roads or spend money to remake the roads. Sata took the bull by the horn 0 0 How did we arrive here? Simple we voted a government and they made decisions n today here we are. How were those decisions made? Were there alternatives? Where do we go from here, what options do we have? How will those decisions be arrived at? THESE MY BROTHERS ARE THE QUESTIONS THAT NEED HONEST ANSWERS 0 0 It is the African leaders; including Zambian leaders that jet off to IMF and World Bank to ask for money without thinking about how they are going to repay this money back. Have you all forgotten about the Cayman Islands and the Chiluba case? These Islands bid $1 to buy Zambia’s debt of $4 billion at the time, in exchange of minerals and all resources of the country. This in itself should tell you what Zambia is worth. When Levy came to power, he bailed us out and revamped the economy. Then Sata and his PF came and used up all the money Late Levy Mwanawasa left in the coffers…! We are here today, now with Lungu PF; still under the same umbella. CHILDREN ARE STARVING IN HOMES AND PF ARE SLEEPING ON MONEY COMPLAINING THAT PEOPLE ARE WISHING THEM DEAD…! EISSHHH 0 0 FELIX MUTATI KNOWS THE ANSWER TO THIS AND HE IS PLAYING WITH WORDS….! 0 0 IMF, World Bank, etc., are all African nations economic hitmen/women. Nothing in African nations will change, until all African nations unite and declare themselves financial independent from Western financial slavery banking systems, which uses Usury, Debts, Fractional Reserve Banking, including the ownership and control of all aspects of African nations currencies, including printing, distribution, international exchange rates, African nations natural resources prices in international markets are all fixed by Western nations, etc. If developed nations continue to refuse paying African nations reparations for Slavery, Colonalisations, WW1 & WW11, bias international trade deals/Laws/foriegn currencies exchanges which negatively impacts African nations and their citizens; then African… 0 0 Comments are closed.