The opposition Rainbow Party has asked President Edgar Lungu to be candid in disclosing Zambia’s actual public debt when he opens Parliament this Friday.
Secretary General Wynter Kabimba said that the figures of Zambia’s actual debt stock are still in contention.
Mr. Kabimba said that President Lungu should also be wary of the major expectation from every Zambian as he opens Parliament this week on how government will address the issue of the economy.
In an interview with QTV News by telephone Mr. Kabimba said his party, in particular, has observed that the Zambian economy is depressed by public debt and does not seem to be growing.
Mr. Kabimba stated that his party’s assessment is based on how the economy is failing to address issues of the people and the high levels of unemployment in the Country.
Mr Kabimba said that Rainbow Party, like many other expectant Zambians, wants to know what President Lungu will therefore say about the Country’s economy this Friday in Parliament.
Mr. Kabimba said that his party equally wants to hear what the President will say about the issue of the mining companies, stating that if Zambia is benefiting from the mines, President Lungu should also tell the nation through Parliament how much in monetary terms, what these benefits are.
And President Edgar Lungu is this Friday expected to officially open Parliament. The significance of the Presidential address to the house will be to explain government policies and intentions. Chief Whip Stephen Chungu has told media that thereafter, Members of Parliament will debate the President’s speech. Mr. Chungu said the Minister of Finance will present the 2019 budget on September 28.
He has appealed to Members of Parliament to be sober when debating the national budget and approve it on behalf of the Zambian people. Mr. Chungu also said the sitting of the National Assembly will receive two new Members of Parliament.
TRUE Bwana Wynter,the President cannot make a Parliamentary speech that precedes a budget announcement without SETTING CONTEXT for the Minister’s speech and without outlining major successes,failures and new ways for us to do better!!May be we NEED NATIONAL DIALOGUE TO TELL BA LUNGU HIS FULL JOB DESCRIPTION SO THAT HE DOES IT PROPERLY!!
Hmmnmmm?? But Wynter naena, he knows Edgar very well as former classmate at UNZA, he doesn’t talk to much when sober.
In fact I support Ba Edgar to stay puut on debts, there can be an upraising.
I never heard my grandfather discuss inkongole shabo even if we saw people grabbing wheelbarrows, and mango trees ku chibolya etc.
I don’t tell my woman on my loans, she only ask “what’s your credit score?”.
Nostradamus at least no body voted for your sokulu (grandfather). Therefore he can use his so called inkongole shabo as he pleases, be it on amapint or fill a cathedral with amahule.
And you expect this guy to respond? This guy is just too arrogant. He has no respect for people he was begging to vote for him. Its all our fault. He sells Zambia, pockets the money and he will be off to Eswatini.
ONCE UPON TIME, I WAS A FUN OF THIS GUY UNTIL M’MEMBE DELUSIONED HIM.
I am afraid Wynter is right.
WHERE HAVE U BEEN SIR , DON’T HIBERNATE , OPPOSITION POLITICS IS TOUGH BANE, BE CANDID ALSO ECL WILL EXPLAIN WHAT U WANT NO BIG DEAL
Wynter boost up your energies quickly and replace the weak opposition we have in Zambia. Replace the Under 5 thug. Zambia deserves checks and balances to be provided by the opposition
Noise-makers in the house! Do we have any prefect in the room, please? Zambia has not defaulted on any loans and will pay them back! Let’s develop this thing. No little boy will ever be president in Zambia.
Now the narrative is “debt crisis” by chronic losers!
Wynter is a lier. Every one read the letter purported to have been written by the finance minister. Aside from who wrote or who didn’t, the facts in it were clear. Lots unaccounted for loans & euro bonds were done under sata. Wynter was a minister / very senior official in Sata’s government. When did Wynter ask Sata to tell the nation how much they were borrowing & how they were spending it? Which economy did they grow, except for Sata taking road tenders to state house? Double standards ba Wynter. Stop the despetation like hh
Now that Wynter is an opposition leader, he should tell us what his findings were about his Oil Tribunal. It’s now 4 years since Sata fired him
Who can be live lungu ?
Worse when it comes to matters of money..??…..pleas…the man even lost his law licence because of matters concerning money…
We are still waiting for the 500,000 jobs he promised..
From the President’s speech me what I want to hear is how Zambia will manage to pay off the huge debt
Debt is paid off in two simple ways, income growth and inflation.
All nations and entities that grow their income manage to pay off their debt. When growth stops – trouble like when on static salary and trying to service the Bayport kaloba. Zambia’s income is growing, hence the debt is being serviced and we have the benefit of the projects from the debt. When the economy stops growing then there will be trouble, hence important to maintain current fundamentals which keep the economy growing. Last debt crisis was caused by failure to grow economy by UNIP. The mines in Zambia who owe far more than what Govt owes are servicing their debts easily by growing their production and productivity. But there is no ballyhoo about that clearly proving myopia and self-interests of those peddling…
All you opposition party stand up n tell Edgar Lunglee to stop selling the country. It’s like someone owning a house that has a kitchen , bedroom, n living room in someone’s hands. It’s so widespread that other people from other countries are beginning to be inquisitive on what’s happening to Zambia.
Ba Kabimbwa,
Zambia has just submitted a request to China to borrow in excess of $8 billion in loans and grants under the Forum on China-Africa Corporation (FOCAC).
Zambia is also seeking a $1.6 billion loan from the International Monetary Fund (IMF). If both loans are approved, Zambia’s debt will now be close to $20 billion US Dollars, almost equivalent to the country’s Gross Domestic Product (GDP). Zambia’s GDP is only 21.2 billion US Dollars.
That answers yo question.
Disaster!!!