shares a light moment with Deputy Board of Directors Chairperson
Professor Oliva Saasa (left) and Zambia Railways Managing Director
Professor Clive Chirwa
Professor Saasa has observed that the investments that the Country has made in road infrastructure, for example, may not yield the sort of return that will service the debt when it falls due.
In an interview with QTV News by telephone Professor Saasa thinks that everyone can now agree that the Zambian economy is headed for a debt stress.
SaasaProfessor Saasa says this is mainly because the Country has not prepared adequately to repay the three Eurobonds.
He states that it is important however for Zambia to be clear of how it will manage the repayment of the first Eurobond of US$ 750 million.
Professor Saasa notes that refinancing of this Eurobond is palatable under the current circumstance but that what matters is the process of refinancing itself.
He says the legitimate question that should be raised with the Turkey option is whether or not Zambia has scouted the market to ensure the Country does not end up with a vulture fund.
Professor Saasa is suggesting that government ensures that Zambia does not make the mistakes it did in the past.
He has encouraged government to look at various options of refinancing the US$ 750 million Eurobond by floating it as opposed to single sourcing.
Says the guy who was ZRL Chairperson and was bleeding the firm dry with pointless board meetings
Playing center forward for Hatribes Utd. HaNegatives Football Club.
That is why he has made this statement: he knows better about these Eurobonds than you do and that’s why you must listen
When we pointed this out to the PF rats on LT we were told investores will come flooding in , tripping over them selves.
To date you can count the notable investors with one hand…….the irony is that these roads have opened up Zambias richers to “brief case” Chinese and Indian investore crookes who are depleting our resources at alarming rates with no care for the environment of the future of the country.
Definitely , without any dought , future generations will find nothing but debt….
When we pointed out this to Animo Farm, they couldn’t get it.
What Prof Saasa has said is no brainer. We all know that road infrastructure, for example, may not yield the sort of return that will service the debt when it falls due. Road tolling in first quarter on raised $18.6 million. At most, road tolling will generate $80 million in 2018. So, we need another 10 years of a dedicated account accrual to generate $750million… what we need to hear from our learned brothers is not common-knowledge critiques, but solutions. Humble request Prof: Tell the nation what specific actions needs to be undertaken to ensure $750 million is available when due in 2022!!!!!!!!!!!
No one can tell PF anything , as far as they are concerned everything is good , manageable and they are winning elections so no problems here.
He made an extensive study and report on what must be done. I can email you. This is a news report and he journalist was asking specific questions and not about ‘how to’. Access his reports on know his solutions though beyond the scope of this regime to comprehend
this is the problem i have with so called `think tanks` or smart guys or in this case prof. Sassa. always quick to point out the negative side of things, their negative opinions jump out first as if thats what they went to school for. i know negativity sells in some quarters of our dim witted society but as a self professed smart guy, please share with us some solutions that are workable and not side on the sidelines waiting for the ” i told you” moment.
It is the reporter who hose the negativity. Direct your concerns I the reporter who decided on the issues to highlight.
@Ze Biggy, It’s embarrassing that a professor would come on a public media and say exactly the same elementary views of those with rudimentary economic knowledge without S.M.A.R.T Ideas to the problem. If he can’t like any ordinary Zambian not be useful with distinct workable solutions, why even talk about the issue? He can as well remove the title before his name for it equates to nothingness
Looks like we have the same guy trying to discredit the Prof. Equally update your reasoning: This is not a statement by the professor. It is a news report following a query and the interviewee has no influence on what the journalist would choose to project. Blame the reporter for asking the obvious. ‘Prof Saasa, do you think the investments in Eurobonds will repay the debt.’ What do you want him to say beyond the obvious? You want him to start calculating gradients of the slope to the debt equation to make PF happy?
It’s going to be a matter of borrowing from Peter to pay Paul.
Any professor of economics in this entire world would have said the same. There are no easy answers to such a problem. That is why he initially advised against certain decisions so that we do not go through such problems.
We have a very intelligent President by the name of ECL but he cannot solve these problems of debt overnight. The easiest way is not to accumulate a lot of debt and expect a professor to find answers. That is why the President has proposed austerity measures to reduce further debt contractions. This is one of the solutions and also increase the productivity of the country.