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Thursday, October 22, 2020

Katele Kalumba cautions against loose talk on the prevailing debt crisis

Economy Katele Kalumba cautions against loose talk on the prevailing debt...

First Chairperson for the Zambia Centre for Interparty Dialogue-ZCID Dr Katele Kalumba
First Chairperson for the Zambia Centre for Interparty Dialogue-ZCID Dr Katele Kalumba
Former Minister of Finance Katele Kalumba has cautioned against loose talk on the prevailing debt crisis.

Dr Kalumba says loose talk can plunge the nation into a deep and long recession which would affect the country’s imports.

He says the country needs to speak with one voice and suggestions on the best course of action from economists and other reliable personnel should be communicated to government unlike politicizing the situation.

In an interview with ZNBC News by phone, Dr Kalumba says government has not been negligent in its use of funds.

Dr Kalumba said the investments where the money has gone into has long term benefits.

He said richer countries have gone through similar debt crises with Greece and Portugal as cases in point and emphasised that what can save the situation is speaking with one voice.

17 COMMENTS

  1. Thanks Hon. I would like to agree and disagree with you yes what we need is positive position and steps on how we can best sort out this debt which has been carelessly acquired in the last two years of over USD6Billion , as of at 2016 we were only at USD6.8Billion and we are now at about over USD13Billion . Also that the truth is that the REAL investments wealth this money cannot be seen , also that there was no repayment plans in place at all.

    So what we need going forward is seriousness from Government and practical Think Tankers or not mere academicians at all to come up with the real solutions which we already have for GRZ to adopt , so we need seriousness and let the Party and Politics off Governance and Government. We know wrong things have been done , but we need to also…

  2. We warned you that only a mad ignorant quacks support PF. Welcome back to sanity katele. You are forgiven. We now need you to do your magic and make the rat lungu disappear

  3. who ever you are need people to be positive and right now there is no substance among all the opposition leaders and parties in place , no one , so we need to ask God to raise one soon . So think twice before you say , also note that we are discussing the National Economy and lives and future of our people .

  4. “…Dr Kalumba says government has not been negligent in its use of funds….”

    WTF……are you speaking in tongues ?

  5. “….Dr Kalumba says government has not been negligent in its use of funds…. the investments where the money has gone into has long term benefits….” If that money was used on consumption, it would be a bad thing. If it went to some infrastructure that will benefit the country 50 years from now, it’s fine. President Lungu has already announced austerity measures, halted new infrastructure projects and put a stop to any new debt. Kalumba is spot on, speak with one voice- like a real patriot.

    • Yes indeed , we have invested in long term projects , so now to raise GRZ money let’s hammer them with taxes and more taxes.

      Genius. PF and lungu are legends.

    • Can you name these long-term economically viable projects that have gobbled all that borrowed money? What is so difficult about it that we have to talk in round-about manner? What some of us know are things like Fire tenders, Ambulances, Military hardware (which we can’t verify) and Zambia Railways which still has dangerously worn out tracks (trains move at 10 km/hr) and still no new trains. Heavy-laden trucks carrying copper still reducing our Chinese-built roads to a life span of less than 5 years. We’re failing to cope with road repairs (see Kafue – Mazabuka or Kazungula – Katima Mulilo border). Let us speak with one OK but who should start talking? Government is not talking anything tangible. Too general like “We have done a lot.” Which lot?

  6. Old parasitic pimp has spoken!
    From where did you got info that you can say “…government has not been negligent in its use of funds…”?
    Just loose crapping or wishful thinking?

  7. LOOK WHO’S TALKING NOW!!
    Didn’t this Corrupt dishonest Gundwane’ flee Zambia because it plundered State resources -(economic sabotage)??
    As they say birds of a feather flock.
    Instead of B.utt licking, you should be encouraging BaJona to investigate 42 Wheelbarrows without further delay!

  8. He is not clear at all on what he wants to say. Just yesterday he said;

    “Dr. Kalumba observed that Zambia’s debt portfolio has now become a shock to its economy especially that it has been contracted in a short period of time”

    His tone was more of criticism yesterday and today he is warning against politicizing the issue while sounding apologetic to the government of the day. This constant ‘sing-song’ about not ‘politicising’ issues is ridiculous. What is not political?

  9. This is how normal citizens talk not thinking that I am the only one. United we stand, divided we fall. We’ve been there before and together we can turn this around. Its just unfortunate that we don’t have an opposition leader with the quality of leadership. Sinkamba talks sense but he introduced himself as ganja smoker and its difficult for people to approve his credibility. HH is leading a popular party but himself is a man of the present who lives in the past. He is too negative, bitter, self centred and distractive to any nation. How I wish late Mazoka was here to see this. Where are the economist in Zambia? Does it means UNZA has only produced HH alone? If so then we have a problem cause HH is already mentally derailed.

  10. That is why Dr. Katele, you should not comment and must go away. Take HH with you when you go. We don’t need both of you.

Comments are closed.

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