Home Headlines Zambia is not facing a debt crisis, people should stop speculating

Zambia is not facing a debt crisis, people should stop speculating

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Dora Siliya

Government has said that Zambia is not facing a debt crisis and has urged people to stop speculating about economic issues and debt.

Chief Government spokesperson Dora Siliya has said that people should allow the Minister of Finance Margaret Mwanakatwe to do her work and stop speculating as it does not help the country.

Ms. Siliya said that Government will look at how to engage international organisations so that Zambia’s side of the story is told in a correct manner.

She has reiterated that the International Monetary Fund (IMF) is not an enemy but a partner since Zambia is a shareholder in the multilateral institution.

Ms. Siliya further said that the Minister of Finance will continue to engage the IMF until discussions reach a logical conclusion.

The Chief government spokesperson was speaking during a recording of ZNBC’s Sunday Interview programme in Lusaka.

35 COMMENTS

  1. Njimbu
    It is HH and his tribal followers who speculate about Zambia's debts!!What they gain from that,only devil knows!! But Kainde must be ignored because he is now done politically and only has followers in 3.5 provinces who are a drop in the ocean as Mighty PF is supported by majority Zambians who live in 6.5 provinces!!!2021 gonna be Kainde's last attempt at the presidency and he will 100% lose to anyone on PF ticket!!! COME 2021 NI PF NAFUTI NAFUTI!!!
    • Carlos
      Well then explain to us why the IMF talks collapsed why your government asked Turkey to refinance the Euro bond why capital projects have been suspended why some civil servants have not been paid why.........eish the list is too long.
    • JourneyMan
      Boss I don't like HH either, but REPUTABLE organisations, including the IMF, Bloomberg etc have said we are at high risk of debt distress. Denial will not make the problem disappear. It's like trying to hide a 7 or 8 month pregnancy. better to admit the truth and work towards a solution.
    • Nostradamus
      PF is facing crisis of ministers, that woman talking was once saying the same shhhit when she was MMD spokeswoman. Zambians dressed dogs in MMD-Tshirts in protest. Chishimba Kambwili and Mulenga Kampamba all tried well to talk on behalf of PF government, BUT because of PF crisis they went back in trash bins to look for Dora.
    • Nkana Kiytwe
      Yes mum, that's very true. Zambia is only facing IMP crisis. If IMF refuses/denial you KALOBA, that's a big sign of being in a debt CRISIS.
    • Patriotic Zambia
      After going to ask for debt restructuring from China then you opt to subjectively speak deceptively. You are jokers to the core
    • Rough-Rider
      ichi nacho ichi, so honestly speaking you cant see whats happening to the country, the government is broke... Dora is lying.
    • Ken
      @Journey man. Being "at high risk" of debt distress is not the same as " being in debt distress". please understand basic English. Its not even economics but basic English. An Example for you.... Zambia is at "high risk" of Ebola and WHO has put Zambia on high alert. It does not mean that there is Ebola in Zambia.
    • JourneyMan
      @Ken trying to hide behind semantics won't change the situation either. A small and fragile economy like ours which is extremly vulnerable to external shocks cannot afford to have public debt at more than 50% GDP. My english may be off, but my economics is spot on.
    • THE PRINCE
      Who are you teasing, Zambia is in Serious Debt Crisis. We have a wrong Finance Minister who does not understand monetary issues. A Country will High Taxation does not encourage economic growth thru small and Medium Enterprises. Our Ministers have to wakeup than show to be smart yet Dull. Dora don’t talk about things you don’t understand.
  2. Steve
    A debt to GDP ratio of 59% wad attained in 201 way earlier than predicted by IMF. And 2018 Zambia is part of 25 low income countries that are considered to be at high risk of debt distress. Zambia is unable to meet interest payment on time, or may require debt relief. Zambia has joined countries such as Chad, Grenada, Mozambique,Sudan, South sudan and Zimbabwe who are in debt disress ZIPAR, 2018.
    • MUNSHA KIMBALA
      THIS MINISTER IS REALLY SHALLOW MINDED. HOW DOES SHE STOP PEOPLE TO TALK ABOUT A NATIONAL ISSUE THAT AFFECT THEM? HOW? DOES SHE THINK THAT ZAMBIANS HAVE NO MINDS TO THINK AND UNDERSTAND ISSUES? AND YET THERE ARE BEST BRAINS IN THE COUNTRY FROM WHOM SHE SHOULD LISTEN. SHE SHOWING LACK OF UNDERSTANDING LEADERSHIP AND THE ROLE OF GOVERNMENT IN A NATION AND IT TI SEEMS IT IS THE CASE WITH THE ENTIRE LEADERSHIP I THIS COUNTRY. WE ARE BEING RULED BY PEOPLE WHO DO NOT UNDERSTAND THEIR ROLE AND HOW A COUNTRY IS GOVERNED.
  3. Njimbu
    HH is now in panic mood as loses during by elections have gotten to his head!!Kainde has now gone to campaign in western province at ward level due to countless defeats at the hands of Mighty PF since 2016 in his so called strongholds!!!GBM is nowhere to be seen after UPND's recent defeats.Am sure GBM has seen enough in UPND and know too well that Kainde may die while trying like Dean Mung'omba,General Tembo,BY.Mwila,etc hence distancing himself from HH of late!!! PF HAS HIGHER CHANCES OF GRABBING NALOLO SEAT FROM UPND IN 90 DAYS TIME BECAUSE UPND IS LOSING MEMBERS TO PF AT WEEKLY BASIS IN WESTERN AND N/WESTERN PROVINCES!!!Late Levy Patrick Mwanawasa managed to win the hearts of voters in Western and N/Western and ECL is just about to achieve that!!!Should HH continue sleeping,he will...
    • Just asking
      @ Njimbu WTF you are crapping about? If there is no debt crisis, can you explain why your anointed, visionary and Endemically Corrupt Leader was BEGGING Turkish President for loan? Mentioning HH in every posting does not deflect the responsibility of the F*CK-UP created by Plunderers Federation. If anything, it makes people reflect on the level of INCOMPETENCE by the current leadership.
    • Silent-T
      You impregnant a girl and you say the devil made you do that, Dude thats avoiding the problem. Man up and face the problem, wether ECL is president or HH is president we only have 1 Zambia and we are not doing a good job currently taking care of it.
  4. Anzeru Akumawa
    Mama Siliya burring our heads in the sand will not sort out the problem the country is faced with .and pretending that all is well will not help ..... From pipo's concerns an amicable solutions can be found........
  5. Enka
    So Dorah is more an economics specialist than the IMF , Moody's Rating and all other full time economists sounding us the debt warning bells?
  6. Spaka
    Give us figures then dora siliya....you think everyone is like the PF rats ready to dance dunnuna with out questions ?
    • Jay Jay
      They can't give figures just like they all go to Beijing on a Chartered plane..a bunch of 10 ministers sitting opposite Xi Jinping and his ministers not one of Zambian ministers taking notes just sitting there like hungry dumb hyenas. Who has Lazy Lungu got on his left hand side to advise him Freedom Sikwazi
  7. Life Experience
    More is still to come until you can hide no longer, I predicted this situation a year ago. Some one will find himself cooking his tribalism, and hope it would change into nsima. Wait....
  8. Independent
    Mozambique only has a foreign debt of $2.5 billion,defaulted twice on repaying its debt and is in a debt crisis. Zambia has a foreign debt of $9 billion with $3 billion in Eurobonds outstanding.$750 million is now due for repayment. So Dora Siliti and PF goons Njimbu,sharon etc need to immediately check into Chinama hospital for urgent mental evaluation.Dont even try to mention Hakainde Hichilemas name in the massive debt you have imposed on poor Zambia.Some people are really stupid,to say the least.
  9. Harold Muna
    She says we are not in a debt crises but at the same time says the minister of finance will continue to engage the IMF. She has already cottoned on to her role as being that of twisting the truth to such shameless levels - to the forever gullible souls.
  10. Senior Citizen
    Madam you are forgiven, you have a phobia for figures or statistical indicators. Give us the debt repayment plan before we default. Not more unnecessary taxation, Presidential Bowl, suicidal debt refinancing strategies etc.
  11. Ostrich Mentality
    By your words, we can judge you! It's good when the GRZ spokesperson tries to assure the nation that all is well. However, the GRZ spokesperson should try to be honest with facts and give us numbers because you are not only talking to Zambians but the world and your word is not taken as Dora's words but Policy Position of GRZ. Don't belittle the intelligence of your audience! IMF and World bank have visited MOF and assessed our situation and have honestly told us we have a precarious debt situation. The figure has even gone up from 9 billion in June 2018 and approaching 15bilion in barely two months counting. What does a junk credit rating mean to this GRZ?
  12. Academician
    They say the first step to finding a solution to a problem is acceptance. Accept that there's a problem and then seek solutions even from ordinary citizens. Living in denial will not take this country anywhere. Dora Siliya served in Mwanawasa's administration and surely she must be able to tell the huge difference between this administration and that of Mwanawasa.Why can't she advise the Edgar Lungu-administration on how they managed to put Zambia's economy on track under MMD??Adopt the courage of Magande and Masebo who were the only ones who could tell off Mwanawasa wrongs and rights.
  13. St. Sweet Angus
    Then why are you renegotiating loans? Come on, if you owe you pay up and not start renegotiating restructures.
  14. ENOUGH IS ENOUGH
    can this state please tell citizens what it is doing with: road levy money. breakdown of how much has been collected and how it has been used including receipts for payments. Skill development levy money.- how much has been collected. how has it been used and receipts for payments. taxes collected, carbon tax, the list goes on. This corrupt government cannot show anything for the 16 billion they borrowed or for all the taxes they are collecting. The only thing they can show is fat bellies, new clothes, new vehicles, houses, bussinesses owned by them
  15. MrK
    " She has reiterated that the International Monetary Fund (IMF) is not an enemy but a partner since Zambia is a shareholder in the multilateral institution. " What country has the IMF advised, that recovered because of their economic policies? None. The IMF/WB has it's own agenda and interests, and they are not the same as the interests of the people of the nations they advise. So who is the IMF a friend to? The ruling elite?
  16. Razor
    Dora just go and explore more before you open your mouth again unless you are just repeating HMV (his masters voice)

Comments are closed.