Finance Minister Margaret Mwanakatwe
Finance Minister Margaret Mwanakatwe
The Green Party has commended Government for debt sustainability measures which were announced by Finance Minister Margret Mwanakatwe in Lusaka yesterday.

Party president Mr. Peter Sinkamba said this morning that the austerity measures were long overdue and hoped that government will be coherent on the issue.

“As the Green Party, we commend Government on the austerity measures and hope that they will be coherent on the issue. The problem with our colleagues in PF is policy coherence,” he said.

He however stated that the measures taken will not make a big difference without addressing revenue inflows from exports.

“Our biggest problem at the moment is depressed external revenue. Our exports are not bringing into the country sufficient resources. We need to think outside the box to identify other revenue streams besides copper, to bring into the country revenue which is three or four time as much, if we have to significantly dismantle to the current debt stock and improve the quality of lives for our people,”he said.

And Mr. Sinkamba has appealed to Ms Mwanakatwe to prevail over Health Minister Chitalu Chilufya on the legalization of cannabis for medicinal purposes to help dismantle the domestic and external debt which when combined she said had risen to about US$13 billion.

The Green party leader said that if Government had heeded to the call to legalize cannabis for medicinal purposes three years ago, the country would not have been in its current debt crisis situation.

“If Government had heeded to our call to legalize cannabis for medicinal purposes, we would not have been in this debt stress. We would have been generating at least US$36 billion per year. With that kind of money, we would definitely not be under this level of debt stress. In fact, we would have dismantled all the debt by now,” he said.

In a statement released late Thursday, Finance Minister Margaret Mwanakatwe stated that President Lungu has ordered cancellation of some existing loans, banned the issuance of letters of credit and guarantees to state owned enterprises, terminated financing of development project that are below 80 per cent completion and cut down on ministerial travels with immediate effect.

Ms Mwanakatwe admitted that the current stock of domestic arrears, which stood at K12.7 billion as at end-December 2017, had adversely affected economic activity through elevated non-performing loans and subsequently contributed to reduce private sector financing.

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20 COMMENTS

    • Sinkamba really acts like a true opposition…he doesn’t walk around acting like he is a parallel President…I wish HH can learn politics from Sinkamba

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    • @ Anonymous
      HH is putting pressure on PF…..Its getting more and more difficult for you.
      First ECL said everything was OK and today he has ordered cancellation of some existing loans, banned the issuance of letters of credit and guarantees to state owned enterprises, terminated financing of development project that are below 80 per cent completion and cut down on ministerial travels with immediate effect.

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    • I totally agree with the two comments. He truly understands the role of an opposition leader and has a clear cut agenda. He always commends what is right and condemns wrong. Most importantly, he provides an alternative agenda. These are much-talked about, and much needed checks and balances. Opposition politics should not be about insults, hate and jealousy…..Hope these so called big opposition characters will one day take a leaf from the politics of Sinkamba. This country can leap forward a million times. Also for the ruling party, learn something from this man. When he speaks there is so much sense…hear him and take action as advsed

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    • $36 billion a year from selling cannabis??
      How big are those marijuana plantations? Who are buyers, chinese?

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    • @******* ****.
      World cup is on in Russia, which team are you supporting
      @spaka. . . Upnd
      @******* ****.. its the national teams from around the globe not political parties
      @spaka.. . This is the corruption we talk about why is upnd not there. We are going to petition this to international organizations.
      @******* ****… hahaha
      @spaka… stop laughing, am not joking. Am sure ecl has pocketed the money for blocking hh and upnd from representing zambia at the world cup.
      @******* **** ….its soccer time my friend politics aside. Am supporting france what about you
      @spaka. ..Am supporting hh..

      Continue. ……..

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    • @Nostradamus: According to a recent report published by Forbes, the global cannabis market was worth $7.7 billion in the end of 2017, and is projected to reach $31.4 billion by 2021. The United States accounts for about 90 percent of the whole market. The going rate for cannabis in 120 cities ranges from £22.86 (US £32.66) per gram in Tokyo to Bangkok where they to pay £17.37 ($24.81) per gram.So, from these prices that are in grammes, how kilogrammes do you need to generate $36 billion? You just need acres not hectares for that

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    • The issue with UPND is that it takes them ages before they comment on an issue that comes up. Its like they wait to see comments on LT before they react and that is deadly for a political party. In this case, Peter Sinkamba is outperforming HH, no doubt.
      I keep on asking what is the role of HH`s “shadow ministers”, who I expected will be challenging ECL`s ministers at all levels? Since he appointed them, I have never head any one of them come up to challenge or suggest anything.
      Can we have a comment from UPND on what their position is on this matter?

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    • Why should UPND be commending PF and lungu for doing what UPND has been telling them to do for the past 4 years….?

      Are you people crazy ? UPND has been asking lungu and pf to apply this common sense for a long time , now they feel the heat is when they are trying …..no need to congratulate them for doing the obvious in fact they should be condemned for taking too long to see common sense.

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  1. “ONLY A TONGA MUST LEAD UPND” says Sejani. That is why I like this man he talks sense and substantially to the point. Sinkamba criticizes constructively and gives credit where it is due, he is not selfish as far as advice is concerned, he does not only see a bigger picture of the issue being discussed but he also gives an alternative solution, above all he is very patriotic,this is the way to go as an opposition. Contrast Sinkamba with tribalist HH, HH is ever crying, blaming others for his failures, He claims to know it all, very arrogant, very selfish with advice and money, a bitter and dangerous man, a political under five. Our next president after our God given LUNGU must be Sinkamba in 2026. HH A THREAT TO NATIONAL PEACE & SECURITY

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  2. This is what we call reasonable and seasoned opposition. Give credit where credit is due. Let some people learn from Sinkala.

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  3. @ Anonymous
    HH is putting pressure on PF…..Its getting more and more difficult for you.
    First ECL said everything was OK and today he has ordered cancellation of some existing loans, banned the issuance of letters of credit and guarantees to state owned enterprises, terminated financing of development project that are below 80 per cent completion and cut down on ministerial travels with immediate effect.

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  4. I just hope this is not just talk. The travel ban was put forward before but I do not believe it was carried out.

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  5. Further, govt must also control its issuance of Treasury Bills to help release resources for local enterprises to access. Most of local debt is by default, spending agencies have failed to pay suppliers due to erratic and reduced funding a situation that has strangled local enterprises. They must also address the too many taxes and exorbitant fees that have been introduced to help grow local enterprises. Boma must also not spend resources following Hichilema’s wild claims

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  6. Next president of Zambia is Sinkamba. upnd take note unless the dynamics change by replacing directionless and tribal still born h.h.

    Look here guys, h.h can never be an alternative to any leader in Zambia, even if we were to have a frog in state house. He has damaged himself beyond repair, when he had a chance to repair the damage of “only a tonga for can lead upnd”. We know the boy from head to toe, look at his infatuation with Charmaine mixing it with politics against the will of all his officials and the grassroots. Lelo ati Lungu wants to kill me. Is that a normal person?

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  7. The role of an opposition political party is not to offer checks and balances.It is to campaign on its manifesto and become the ruling party.You dot hat by amplifying your opponents mistakes and convincing voters that you can do better.

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  8. This what UPND and HH have been telling this lot to do for the past many years

    ….now they see the light. Some might say too late in the day to be waking up.

    They were told on numerous occasions that they need to spend on projects that will increase exports and cut imports like manufacturing , that is what sinkamba is telling them

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  9. GRZ TO PAY $42 M FOR 42 FIRETRUCKS.

    OVAL HEAD: but lungu is a genius, this is now development…
    upnd cadre: even the USA can not have these advanced fire trucks.
    Njimbu: the 6.5 provinces very will be
    happy…..firetrucks that can now even see around corners.

    GRZ TO BRING CHINESE POLICE.

    OVAL HEAD: this what we call development mwe…
    upnd cadre: those Chinese can not be Tonga….
    Njimbu: even the 6.5 will not be arrested by the Chinese I am thinking…

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  10. Mr. Peter Sinkamba, are you by any chance slowly putting your name for consideration of the Endemically Corrupt Leader of Plunderers Federation?
    Are you serious in “commending” the Plunderers which has caused this state of affairs with theirs inbreed criminality?
    Job well done Mr. Sinkamba!!!

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