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Alba Iulia
Monday, February 24, 2020

Ongoing persecution of HH might affect IMF bailout- Prof. Saasa

Economy Ongoing persecution of HH might affect IMF bailout- Prof. Saasa

   Prof. Oliver Saasa

Economist Professor Oliver Saasa says the continuous dragging of UPND leader Hakainde Hichilema’s treason case might delay negotiations for the country’s IMF bailout package.

Magistrate David Simusamba has referred the treason case involving Hichilema to the High Court for judicial review, saying if the judicial review did not take shape in 15 days, he would then proceed to commit the accused to the superior court for trail.

But Prof Saasa told News Diggers! that one of the messages that came out strongly when he met diplomats from “a high level embassy” at his office recently was that the IMF package might be delayed by the ongoing treason case.

“The way they were talking and knowing how they control the IMF, it made me think and made me a little bit worried, like yes, you might think you are concluding with the staff at the negotiating level. But really hard questions may have to be answered at the Board level and they may actually say, ‘while you go on with your legal process, we don’t want to interfere with your sovereignty since you insist, we will wait for you when you are done, then you can come back’. For them (IMF), good governance is not just political, economic governance is what constitutes the ingredients for that sort of external support,” Prof Saasa said.

He said the earlier the case was concluded the better for the country’s economy.

“There are a number of players that are sitting and waiting in the wings to see what is going to happen. One of them is really the investor community, especially against the backdrop of the ongoing political challenges of governance. People would want to see and get a little bit better news from Zambia than what has so far been taken. And therefore one of the good news is two-front in my view – the entry of the IMF and the resolution of the political, what many people believe is a political standoff and I subscribe to that situation. We are waiting whether there will be some inroads that point to the more positive direction,” he said.

“The biggest problem is fiscal, which is where we are relying on the executive instrument of government in the Ministry of Finance – how do we account for money? How do we approve the budget? Are we giving more resources to the wrong priorities while we are shouting ‘we want to reduce poverty?’How do we reprimand those, through oversight institutions like the Office of the Auditor General? How do we reprimand wrongdoers? All those questions… that is what really ultimately determines whether we are doing the right thing with resources that we generate and manage or not. So for me really, these are the things that I don’t need the IMF [for].”
He observed that Zambia was desperate for the IMF aid package.

“In fact, the IMF never comes to Zambia. We go to the IMF, that is why right now we are canvassing the world, the globe for them to get to listen to us. We are the ones who go there. The question is why do we keep going there, rather than the IMF coming to us? One has to ask the right question to get the right answer,” said Prof Saasa.

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  1. Mr Lungu does not realise that the battle he has started many have fallen aside…………

    Kaunda tried it….. he went down on his knees begging the IMF after they fixed him
    Mugabe tried it………….. Zimbabwe is history
    Big Musavani tried Uganda has been going no where

    A drunk from Chawama thinks he can play the game soon you will realize that you to small

    • First of all, the professor cannot distinguish between PERsecution and PROsecution.
      Secondly, Zambia is a member of the IMF. The IMF is a bank and has nothing to do with ‘democracy’ or ‘good governance’ unless it has to do with how their money is going to be used. The IMF is not political. Can Professor tell us ONE country where there have been human rights violations and the IMF has not lent them money?
      Donors are different. Their aim is political.

      IMF bail out should be economic not political! Said what prof! I can’t hear you!HH is being tried for the charges slapped on his sad face.

    • Oliver Saasa is not an economist though for long he has been left to freely flaunt a professional status he has zero credentials in. Saasa has nothing to delineate his academic works in economics from any school on earth. I will not attempt to dissect this insane remark here except to note how the “anti-Zambian” he is.
      On the IMF i have consistently said, as a country we do not need to fall for the IMF concoction too toxic for a wellness of our country. Had Mutati been up to the task of Minister of Finance that thrives on the valued engagement of experienced Zambian brains at home and in the Diaspora, we could have freely shared winning options. our problems are not insurmountable.

    • This saasa thing is not even an economist but a mere economic commentator. He has no data. We all know that hh is not being persecuted but prosecuted for the Mongu sins. Let the courts fully deal with him after all he is a mere ordinary citizen like anyone else

    • “Economist Professor Oliver Saasa…”


    • Dummies! How about addressing the issues the Professor has raised here. You choose to runaway from the facts by attacking he’s credentials, we know very well from your shallow comments here that you all have nothing but shiit to your names.
      The IMF will not waste its resources on “Delinquent Ediot governments”
      If you ask me how I know? its because I live in Washington Dc and I know how it works here. They need to clean house and stop making those futile trips to beg from here.

    • @Uncle Charles
      To be fair to Saasa, there’s nowhere in the article where he has used the word “Persecution”. This word in the title has been manufactured by the author of this article.

    • ….so the same people tell us to respect the rule of law…and when we do precisely that (by the executive not interfering) then again it bothers them and the want the executive to get involved…what lunatics are these, Mr Saasa! And from your article, Mr. Sasaa sounds like you agree with them? What is wrong with our so called learned Zambians?

    • Mr Saasa should be telling this to HH’s lawyers who are busy raising preliminary matters at every turn. And anyway, what has the IMF got to do with HH’s case? This so-called professor should stop shouting from the mountain top and advise advise HH’s lawyers to smarten up.

    • the credit card for the east has been maxed out, Zambia is not rich enough. the Chinese and Indians are not daft. they know the capacity of a country to pay back.

    • Which look east which is friendly? In your dreams up to today Zambia is still paying for the Tazara railway. Loans from the old Yugoslavia are still being serviced for trucks Kaunda got on credit. The western world have even got a heart they forgave your loans the east will never forgive you

    • The Chinese are pumping billions in Pakistan and Afghanstan and Vietnam… these are countries that can pay back. Go see the highways and factories being built there……in Zambia they are building you shopping malls and stadiums…. you stand dancing ati we are developing

    • The only looking east that will happen is when Lungu has to go China for his medicals instead of South Africa. The Chinese are not stoopid. They will play you along but will quietly withhold their money, except for piddly diddly handouts. Zambia is broke and has no friends any nore, apart from Zimbabwe and Uganda, as Lungu has acknowledged.

  2. we continue to petition the world community that money lungu wants he will use to erode our democracy further and attack the opposition.

    . The kaponyas are laughing saying no one will listen, they say the west will be happy with a firm lungu cracking down on democracy to protect their interests , we continue the petitions at spam capacity and speed.

    all intellectuals who care about democracy and the rule of law in Zambia help with our petitions.
    dictators don’t like free media but fortunately there is not much they can do about social media. those are the only tools we have.

  3. “In fact, the IMF never comes to Zambia. We go to the IMF, that is why right now we are canvassing the world, the globe for them to get to listen to us. We are the ones who go there. The question is why do we keep going there, rather than the IMF coming to us? One has to ask the right question to get the right answer,” said Prof Saasa.
    Absolutely spot on, Prof.

    The reality is that rational thinking and questioning things is sadly lacking in our Zambian culture, This breeds the worst kind of IGNORANCE. The worst kind of ignorance is when we’re ignorant that we’re ignorant.

    Martin Luther King, Jr. wrote, “Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity.”

  4. Good afternoon, morning , evening to all zambians around the world. I have been very busy working behind the scenes with our legal team in the on-going persecution of the zambian legal president, his excellence Hakainde Hichilema. I am now back briefly here to impart my very valued wisdom to all you keen readers and followers. Saasa is only giving you facts because even a baby knows that some one cannot fund an entity where he has a risk of not getting a return. The pf is such a risky entity such that we are now seeing the entire international community being very cautious in their dealings and investments. Things get worse with the loss of zambia to costa rica. Remember when Lungu congratulated the team and then I NEZ told you that he had cursed the team.. there you have it..

    • NEZ, I hear PF’s strategy is to keep HH in prison for at least 6 months so that he does not qualify to stand in 2021 as per our new constitution.

      What’s your take on that ?

    • @Pepe:
      This is the problem with PF id.iots like you! You need to be schooled for you to be civilised but I think it is too late for an OLD ar.se like you!!
      HH is in detention NOT prison – there is a huge difference between the two!! As HH has NOT been convicted of anything, even if you kept him there for a century, he will still qualify to stand. Disqualification only comes in if he were to be convicted – which he will never be!!
      So, Mr Pepe, you can now go and lick your grandmother’s stale and smelly OLD pus.sey for all I care! Mother fcker!!


    • You Full don’t type in all capitals here, You don’t need to yell here. Learn some basic typing etiquette. Maybe if you go back to high school and graduate, you will learn something and have a basic understanding of how the world operates in general. You have to reason before you type, your feelings are not facts.

  6. Mugabe told IMF and Western Financial Institutions to go to hell but he is now on his knees begging to access Western Capital markets. Zimbabwe now has arrears amounting more thanUSD1billion. With these debt arrears Zimbabwe cannot get any money from the West in Loans and grants. Mugabe told the West to go to hell in frustration and then adopted a Look East Policy and was for years hoping their all wheather Friend, China would give Zimbabwe some money for Budget and Balance of Payments Support. China financed some projects but refused to lend Zimbabwe a Cash Bailout. Lungu is now travelling on a Similar path to Mugabe and will soon learn the hard way that telling IMF,EU,USA etc to go to hell will result into Financing Drought. History repeats itself.

    • The only looking east Lungu will do is flying to China for medical tourism as he is no longer welcome in South African hospitals. China will not give money to countries that no longer have a strategic advantage. Right now China is putting more money into DRC than they have ever put into Zambia.

  7. It is a pity that Prof. Saasa has lost his professional track in the field of economics. He is best advised to throw his hat in politics. Besides this armchair economist should have been advising HH the folly of his friend’s behavior that will impact strongly on his (HH) business empire. The IMF has a think tank to assess the viability of their client States. Prof. Saasa knows that IMF is in a big financial business that takes into account political dynamics. Would the Professor be “IGNORANT” that the Law is actively resolving HH’s case(s) in Courts of Law? We expect to get well researched comments from top “academics”.

  8. When a company,individual goes to get a loan from a bank, he has to have collateral for security if there is a default.

    But it is different for a nation trying to get a loan, you surrender key industries which are key to that country’s economic productivity. And you must have a functional democracy. With opposition parties they will use to topple the government in terms of default.

    Right now most key industries are already in private hands like the mines and democracy is seriously ill.

  9. The EU recognized the PF government as duly elected. Many other messages of congratulations were received from different countries, including the UK and the USA. Various political parties also accepted the results, including Rainbow Party (Lawyer led) and Restoration Party (Lawyer led). Under these circumstances, it is not a logical argument to state that the deal with IMF needs to be suspended. Governance in the country is as good as can be. The IMF is concerned with the capacity to repay loans. With inflation at one digit, the country will repay the IMF loan. Whether or not the case involving the UPND leader will be concluded to the total satisfaction of IMF board members is a different question altogether. In a democratic country, political players are free to hold opposing view that…

    • Whether or not the case involving the UPND leader will be concluded to the total satisfaction of IMF board members is a different question altogether. In a democratic country, political players are free to hold opposing view that are consistent with existing laws. The challenge to existing laws must not be allowed to go with impunity.

    • @Dr. Makasa Kasonde (Private Citizen): The problem with you Mr Big Ar.se is that you are a fake Doctor otherwise you would have known how the IMF operates. Governance in any financial discipline whether it is Economics, Accounts, Banking, etc is paramount. In some cases, companies don’t even invest in companies that have cruel practices to animals!! So DON’T you Fake Dr. Makasa Kasonde (Private Citizen) understand that the IMF does NOT and CAN’T lend money to Lungu’s regime that does NOT respect Human right – opponents woken up in the middle of the night without a search warrant; property destroyed; and even policemen shi.ting in a private citizen’s property! At the same time you call yourselves democrats when your regime does not respect the law (Lungu stayed in office during the…

    • Contd….
      (Lungu stayed in office during the petition) and you also don’t allow press freedom (forced closure of The Post). The USA is the main shareholder in IMF and when HH told you that he was talking to Trump you thought it was a joke!! Ar.sewhore!!

  10. @Chisenga. Zambia is a Sovereign Country so why does Mutati want to borrow $1.6 Billion from IMF? Lungu says Zambia should be self reliant so IMF,EU and other Western Financial Institutions should stop lending to Lungu’s Zambia. Infact Lungu should repay Zambia’s amounting to $8 Billion Debt. No HH Release from Jail No IMF Loan! Its as simple as this!

  11. Professor Sansa……my foot. Those are plain sour grapes, man. You were hoping to be Minister of Finance. It didn’t work out. It won’t work out. You come across as a sham. See how you undermined Clive Chirwa? And what did the country get out, wise man? You’re not necessarily the best around.
    Your article above is full of innuendoes. Flash back and you’ll remember HH refused to support adoption of the same Constitution he later relied on to propel him to presidency. He campaigned against the same bill of rights that he now so fervently needs in retrospect to save him. He contemptuously watched while Zambians struggled to formulate a Constitution and boasted and hoped he’d tear it up when he ascended to power. Now that same Constitution has descended on him like a ton of bricks. Prof…

  12. Egypt can hold hundreds of political prisoners without trial and it will still get financial help from USA Saasa has been critical of all presidents except Mwanawasa.

    • Very laughable…. another dull Zambian
      GDP (Egypt) US$330bn
      GDP(Zambia) US$18bn
      Hope you have learnt something

    • 15.1 TheEngineer (Australia now Germany) – Zambia GDP $21 billion. I see you don’t wish Zambia well even though you’ve got relatives living there.

  13. 14.1 you’re the dull one. We’re not talking about your GDP or what ever For Egypt to have a better GDP is because they have had full economic backing by your adopted countries.

    • @Mbanje khakis:
      Ar.sewhore again! The truth is that Zambia is NOT strategic and just a poor country with a drunkard mother fcking president – the world cant be bothered with your £18billion. However, the world cannot ignore the £330billion GDP from Egypt and that is the way it goes!

    • Ndanje

      just continue dancing and hoping for IMF money to loot…don’t comment on world affairs.
      Egypt is a strategic vital country to Israel and the US and the broader fight against Islamic jihadis…

  14. It’s imf which need to ripoff Zambia because after the program it will fail again as seen after the 90s’

  15. @Chilyata insults will not take you any where but is a sign that you have nothing to put forward . Have a good day

  16. The Lozis and Tonga’s mindset can be pathetically painful when they see issues from tribal lines, even among the educated! pathetic!

    • Careless talk on your part, so why has IMF not given ECL’s administration any money to date if they know what they are doing! The year’s half-way stale and no coin to show for it!

    • You mean the state will have it’s day in court completely dressed down. If what Amb. Mwamba said to the world is the best there’s then you should worry. Under 5 as you call him didn’t even open his mouth but the state was really sweating in the first round! What a waste that after so much pomp and use of excessive power, the first inkling into this ‘treason’ case was just about state operatives claiming they were insulted. Your lot should do better than that! Let’s just say the state really has a problem at its hands how to get evidence to manufacture a treasonable offence. You bet even ECL is not amused by such amateurism or perhaps stupidity. The problem is he is the head so you can imagine what opinions have been formed of him by those who can think rationally!

  17. Saasa is not an economist. Take it from me. The man just masquerades as an economist. He double majored in library studies and development studies. You can’t compare him with the likes of Professor Ndulo or Seshamani.

    • That notwithstanding, he gets the audience of those who have the money unlike some of you economic refugees.

  18. sounds like hh is comfortable behind bars hoping for some v’zela force somewhere to put a squeez on zed economy

  19. IMF are just middlemen who borrow from China, let them hold back the funds if they want to. We will talk to their bosses, the Chinese atase!

  20. You can’t have your cake and eat it…ie, you can’t be a dictatorship and also have bail outs and Serious Investor confidence. If you make the bed then you must sleep in it! Life is about paths, every path has a different outcome and repercussions, think wisely Govt of Zambia.

    • Well you think that will register anytime soon, nay! You can clearly see this in the fact that Maimane was busy dressing down these characters in front of Zambia High Commission in SA and all they could do is sing a stale out of tune ‘chipolopolo’ football song.

  21. Comment:
    Saasa has indeed been critical of the majority of Zambia’s presidents. Mainly because none of them could nominate him to anything in their governments because he has always been considered phony.

  22. UPNDonkeys, you told us recently that IMF was out due to HH, but soon after EU and IMF itself told us otherwise. In favt an IMF team is expected in Zambia early next month for further talks. So what exactly are you talking about if you a donkey?
    By the way what cultural identity is Saasa? To me looks like he is marketing his consultancy services, but I know him as a professor who has no principles, but only looks at sources of jobs.

  23. Prof Saasa is being polite. With continued persecution of HH thru the Courts Lungu and Mutati should forget about IMF Loan. In any case Lungu speaking in Kawambwa in Northern Province yesterday told Foreign Lenders and Donors to go to Hell for continuously telling Lungu to release HH from Jail unconditionally. The IMF Board is controlled by Western Govts and there is no way the Board is going to approve a $1.6 Billion Loan which could be used by Lungu to further persecute and prosecute HH and other Opposition members. Lungu and Mutati should budget for International Sanctions and indictment to ICC for committing crimes against humanity. Without external Aid the Zambian Economy will collapse on Lungu’s watch.

  24. @ Mundia, your brother, Prof. Saasa, is not being polite to Zambia or anyone, but is just openly mourning on the loss of his easy-to-get income through provision of fake CONSULTANCY Services from HH business ventures. His comments attract curiosity.

    If Prof. Saasa carries the credentials of a true academic as we know them prevailing in UK or fine US Universities, WHY HAS HE FAILED TO SUPERVISE MA and PhD students in the field of economics at Unza, an Institution that conferred on him the title of Professor when he was Director of the Institute of Social Sciences located north of Munali Secondary School? Prof Saasa’s rantings on the fate of his cousin, HH, are more to do with his political stance and loss of business rather than his professional authority in economics.

  25. We have a lesson the hard way. Next time only BUSINESS MEN AND WOMEN of Tongas and Lozis genetic CLANS will seek for any consultancy services from this Economics Professor-turned Politician.

  26. We have learnt a lesson the hard way. Next time only BUSINESS MEN AND WOMEN of Tongas and Lozis genetic CLANS will seek for any consultancy services from this Economics Professor-turned Politician.

  27. PF Bloggers are naive to expect that IMF will lend Zambia $1.6 Billion in spite of a Breakdown in the Rule of Law, Poor Governance,Gross violations of Human Rights and lack of Respect for Zambian Constitution. With HH in Jail on Trumped Up and Politically motivated Treason Charges Lungu and Mutati should kiss Goodbye to IMF Loan and Western Financial Assistance.

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