The Zambia Youths Association in the Fight against Corruption has appealed to the public to desist from antagonizing government on its decisions on debt refinancing and austerity measures aimed at managing the country’s economy.

Association Executive Director, Maurice Malambo said his organisation acknowledges that the citizenry has the moral right and duty to make audit of national governance but noted that it is important to do so in a non-malicious manner.

In a statement released to ZANIS in Lusaka today, Mr. Malambo stressed that those who criticize government on the debts and austerity measure should also help provide alternatives.

He said the association has taken note of the negative and positive positions made by different stakeholders regards some important decisions made by government in the management of the economy such as the intended refinancing of the Euro Bond, some austerity measures and the debt levels in the country.

He stated that there has been flowery of negative sentiments defying well founded and articulated position of government on the debt refinancing and austerity measures through the Office of the Vice President, the Minister of Finance and the Chief Government Spokesperson.

He said the negative sentiments around important economic matters which he noted are largely speculative have the potency to inflict injury on the economy arising from a reduction in the flow of investment.

“For instance, the 2009 global economic recession was not fundamentally driven by the speculated global credit crunch, instead, it was largely caused by speculative negative sentiments regards the possibility of a credit crunch that made small scale business owners, conglomerates and the consumers of goods and services to withhold investments and expenditure respectively. This resulted into a significant reduction in investment and a sharp slump in liquidity circulation in the global economy due to reduced economic activity in Commerce, Trade and Industry,” the statement read in part.

Mr. Malambo added that, Zambians should understand that there is currently no debt crisis or distress noting that the austerity measures are a temporal undertaking in economic language referred to as moratorium (freeze) on specific areas of expenditure or on the increase in expenditure in order to generate some savings and direct the same to areas that are in acute need or are of urgent necessity at the time.

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13 COMMENTS

  1. The debts shouldn’t have been incurred in the first place Mr. Malambo. the first eurobond was understandable because Mr. sata has a plan for it. The 1.3billion one and the rest of the borrowing that Mr. Lungu and co have accumulated and consumed is unjustifiable. They had no plan except plunder and campaigns in mind. They can’t even account for any ofvthe money. And here comes this gentleman telling us not to antagonise government. Do you have any idea what it will cost the ordinary Zambian to repay these huge debts that have done nothing to kick start our economy and have mainly been used for the benefit of a few individuals who are building mansions everywhere. Just shut up Malambo!

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    • How do you get billions of dollars for campaigns.This win at all cost is what is driving the country to problems.

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    • So we should just sit back and watch these thieves selling our country? They are the ones who know where the money has disappeared to

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    • But abaiche nabatumpa, instead going get noble jobs as teachers, they are busy lining up at PF for bribe.

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  2. But these useless organizations also know how arrogant these goverment chaps were when getting multiple debts, everyone that asked for caution was labled bitter.How do you arrogantly acquire debt and then call the hungry and angry masses to provide solutions when they can see the personal properties the fat cats have acquired using the same money.
    Zambians we are too nice lets not allow irresponsible behavior from those given the mandate to rule.

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  3. Malambo your government just entangled itself in the trap. Enjoy your cadre allowance, i stand for the marginalized Zambians whose sacrifice put me into education from pre-school to many Universities and UNZA being the foundation at the time when UNZA used to value intelligence more than the ability to pay tuition fees.

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  4. Thanks for the observation, don’t blame me for the incompetence system. I am a real one who is principled and i am here to stay. I am glad the other SC is no more. MHSRIP. You want my pound of a fresh? You are welcome.

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  5. The problem with opposition parties in Zambia they have no solutions to whatever they criticise the government hence the irrelevance of the existence.Lets take UPND the biggest opposition,the MPs are supposed to oppose and voice out the concerns of the people they represent but all you see is loyalty to HH.The Question is are they in Parliament to represent HH or there communities they represent or the voice of the people who voted them in.Lets stop blaming the government on everything but instead remove these useless MPs.In developed countries we exercise our vote to bring in the people we think will represent our interests,things that will improve our livelihood and better services.

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