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Alba Iulia
Monday, January 20, 2020

There is no country in the world without debt-Katele Kalumba

Economy There is no country in the world without debt-Katele Kalumba

 

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 Finance Minister in the MMD government Katele Kalumba has taken a swipe at people who are politicking over the country’s debt situation.

Dr. Kalumba says the country’s debt levels are sustainable.

He told ZNBC news in a telephone interview that Zambia’s economic production capacity is still strong and only slowed down due to climatic conditions which have led to low agriculture productivity and electricity generation.

The former finance minister says these effects are policy responsive.

Dr. Kalumba also notes that there is NO country in the world without debt adding that what is critical is sustainability.

He said there’s nothing wrong in borrowing for investment in capital projects and that most of Zambia’s recent debt has gone into infrastructure which is visible to everyone.

Dr. Kalumba further states that Government has not been reckless in the utilisation of borrowed funds.

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65 COMMENTS

  1. This man is a real i.diot. We all know that but its stealing the very debt for personal gain that we are against. You borrow $12m and steal $10 million what does this mean? You leave $2m for the state and pocket $10m is that normal. Better keep quiet instead of provoking people who are suffering as a result of your stealing. Mwembwamwe!!!!
    Disaster!!!

    • First of all he is telling lies. That are 5 countries in the world that are completely debt free. Just Google debt free countries.

      Secondly, to argue that you are doing something merely because everyone else is doing it is biblical apocalyptic idiocy.
      I am glad we do not have this !mbecile in government to mislead us. Unfortunately, if we took a vote amongst our current members of parliament, 90% subscribe to the same nonsense, so we are not out of the woods yet.

    • Nantende Walushiba Tefwetefwe, yes all countries borrow but not all countries borrow from the bond markets. The World Bank was specially created to lend to low income countries such as Zambia. If u get into trouble, the WB is ready to reschedule debt. U can’t reschedule bond markets debt.

    • HAZALUZA HAGAIN! Hazaventa ngati Hanvela. I mean the Little Boy UNDER FIVE and Privatisation Thief and leader of a TRIBO H-organisation masquerading as a Party.

    • Well said my brother. This Katele stole a lot from Zambians, who does not remember him. Is he really the right baboon to come up with such statement. Hunger, Lungu knows you well. He will not give you a job iwe Katele, your time is over as you blew it all. When you were in Government you thought you were untouchable you idioooot. “ You are as dull as moon face, never seem to change.” Lungu will never give you a job, you in the dustbin my friend waiting to rot. I do understand that you are not ashamed of all the crap you did when you were in Government. Why God is still keeping an idioot and useless creature on earth puzzles me. Find something else to talk while you await the day of Judgement. I don’t understand either the journalist from Lusaka Times that found time to waste talk time…

    • Dedicated to Katele the Thief”
      Look who’s talking now
      Look who’s talking now
      Look who’s talking now
      Look who’s talking now
      Me know a thief star, we call him Mr Katele Kalumba
      He has a very, very complex attitude
      He said some stupid things
      Me no like the way him talk
      Me no like the way he stole from Government
      That’s why me said to him:
      Look who is talking
      Look who’s talking now
      Look who’s talking now
      Look who’s talking now
      Look who’s talking now
      Look who is talking
      Look who is talking
      Look who is talking
      Look who is talking
      Katele is talking now, idiooot

  2. Foolish politician.

    Talk about the reasons for owing money. Ambulances , fire trucks, Presidential jet and you say it is okay ?

    Just because everybody owes money we as a poor country can borrow any how.

    Glad you are out to government.

    Mambala.

    • The government borrows because of you and your family. So please stop complaining and pray for your country. God is the only solution, at least pray for the rains to come. Be an example and don’t judge what you know nothing about.

    • LOOK who is talking! Isn’t this the guy that stole money and went hiding. He was finally caught out when the voodoo that used to turn him into a mouse stopped working. Just shut up before you start us big time! There is indeed no honour amongst thieves.

    • Mapatizya Formula Party is twerking! Sorry is fuming and twitching! It has been made to have ululenda and foam from the mouth.

  3. Yes but not unreasonable debt like the one Zambia and Zimbabwe have. For zambia what is there to even show for the debt as every economic indicator shows we are in a crisis.

    • Let’s develop this thing! UNDER FIVE is UNELECTABLE and still a BOY. They should feature Vice President MUTINTA in the next election, they may have a chance.

  4. Kalumba is saying sense and please don’t demonize him. Since I was born I haven’t seen proper development like the PF’s under very difficult economic conditions apart from the one that unip did which had a lot of disposable income. Let’s praise where it’s due rather than being unfair in all aspects.

    • If it had not been for the crooks who support UNDER FIVE Zambia could have even been a better place and highly developed. TREE MANSIONS and his friends have began squeezing Zambia to derail the developmental agenda of our hardworking president but TRIBO Africans are the enemies of their countries. Zambia’s challenges are normal and some are TREE MANSIONS’ induced! My foot!

  5. Katele Kalumba you are a fool because your stomach is full you think everybody in the country is full are Zambians going to eat the roads you politicians you are a disappointment to the country I think the best idea is the military to just take over the affairs of the country you want to keep on borrowing so you can keep on stealing thieves.

    • At HaSichalwe! You missed the real fu UNDER FIVE and Professor NO HINSONI! Please write your complaints on a university letterhead to the UN and it will be heard very quickly! What number do you play in NAMWALA FOOTBALL CLUB? A goalkeeper?

  6. Kalumba you are a fool because your stomach is full you think everybody in the country is full are Zambians going to eat the roads you politicians you are a disappointment to the country you want to keep on borrowing so you can keep on stealing.

    • Awe don’t go to far in insulting a person just because they poured out their opinion. If you were in his position would you open up to speak like he has spoken? We should really learn to respect other people whether in authority or not we all have the same value. Why don’t we Zambians appreciate if the little that our leaders do for us? The only thing we do is complain even when it is not necessary. The problem here is the climate, there has been no rain in some parts of Zambia and that is why we are facing all things challenges. The government can’t bring rain by force. So we should instead support them and help to economise what we have in the country now. All the debts they have it’s all because of a better life for their citizens. Please brother change your language and learn to…

    • How are Zambians benefiting from that infrastructure development??

      Have they got jobs, have they got medicines ? Has the living standard improved ?

  7. Kalumba because your stomach is full you think everybody in the country is full are Zambians going to eat the roads you politicians you are a disappointment to the country you want to keep on borrowing so you can keep on stealing.

  8. Moses Sichula,when were you born? Step out of Zambia and see the real definition of development. Not the rubbish you are seeing. Dr. Katele received a free vehicle as a gift for ditching UPND and speak for PF in 2016. When you have a man to man talk with him, like many of us who reside in Chienge, above report is the opposite of his genuine position. Hold your government accountable…

  9. I am not a cadre but an intellectual. I spend a lot of time reflecting on some of the non-political issues being raised by some people simply to seek unnecessary attention. I think common sense is not common. Am sure even our children get surprised when they hear an adult failing to reason over straight forward issues; pretends to be offering the so called CHECKS AND BALANCES. Am wondering why GRZ borrowing with massive investment in infrastructure is now a political issue. We are all to see how developed Zambia looks now. Compare the outlook of the compounds like Misisi now with how they were 10 years ago. Some of you never even passed through those compounds, but now you even have girlfriends from there and you visit them regularly. The borrowing and investment in infrastructure has led…

    • Ba Mubanga, unless the meaning of intellectual has changed, I dont think you are anywhere near the true meaning of intellectual. Having and visiting a girlfriend in Misisi does not amount to development.

    • This is the problem. Somebody has failed to grasp the meaning of just a simple sentence . Schooled or educated? God knows.

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  11. UYU NAYE!! WHY NOT JUST CONCENTRATE ON FARMING INSTEAD OF B00TLICKING?? Coz you know na ma load shedding, & late farmers inputs you cannot survive under His Violent Excellency [email protected]!zar’s Zambia.
    Kitele Kilumba was heavily involved in plunder with his equally Corrupt Zairean President Frederick Kiluba the late.
    He spent all his plunder proceeds in hiding on a laptop in the bush, buying expensive suits, na ma Hu1e, nomba ya nyokola as you are in deep crippling debt, you want to jump to J0na & enjoy more plunder @ expense of poor suffering masses iwe’ K0Lw3!!

  12. With that kind of demented thinking, the doctor should be dropped from his name! Which rock has he been living under to fail to appreciate that the motivation for the so – called development is the kickbacks that the taxpayer must still pay for?? Doctor wa matuvi!

  13. The truth brings confusion in the opposition camps as they are used to lies. Well said, Dr. Kalumba-you are now a target of insults and hate because you have spoken the truth. That’s the type of politics upnd has allowed to flourish in their camp, you will now be called a PF cadre!!

    • The truth in on the ground badala….

      We all can see developments, can we also see a corresponding raise in standards of living ???

      If not , that development is just for show

  14. Bwana ba Kalumba, there’s debt and then there’s nkongole…Zambia’s nkongole is out of control compared to what we are earning.

  15. We are not against development, government officials are pocketing a lot of cash, the money borrowed should have also being put in developing industries that will strengthen the economy, we import everything from toilet tissue to tooth-pickers… This debt is not paid by politicians its paid by us citizens (taxpayers), we have every right to complain unless you dont pay tax then you should keep quiet. A poor country cannot be spending 1 million dollars on a single fire engine that is just not normal justify that then you are stupid. This kalumba guy is the common devil that is corrupt to the core…he has no morals at all…everything about this guy is juju…honestly how can we be successful as a country when people who represent as are common thieves.

    • Under PF, Zamtel has been taken back by GRZ, KCM also. They have created IDC to encompass all parastatals to enhance their effeciency. Zambia Airways is coming back, Zambia Railways is also on the cards-entities MMD sold. A law to enhance pension schemes by bringing them under one company and not allow private ones is on the table. For industrialisation and diversification to be meaningful, we need a skill-trained population in place; our education system needs reform.

  16. It requires a sharp mind to decipher what is going on. How can you have only 10% of your budgetary headroom to serve social sectors and some body says every country has debts. You must understand what the issue is all about here. In the first place, It is exactly such reckless comments which have put us in the dire situation we are in now

  17. To say because every country has debt so Zambia should contract debt recklessly the way we have done is beyond comprehension. Really?

    • You’ve put it exactly the way I was thinking. Mr Kalumba we’re saying the government has been reckless in contracting debt,do we need a $500m dollar Ndola airport?South African Airways has never made profit since 2010 do we need to get into a risky venture without anything to fall back on?

  18. Borrower is servant to the lender. The debt is only sustainable if there are slaves to pay it off. Katele sees us as slaves and not free sovereign Zambians

  19. Who can take this wizard seriously. Here in England the racist conservatives under boris have won due to illiterates falling for populist chants. Very similar to pf winning in 2011with anti Chinese rants only to sell mukula trees to them.

  20. Those calling others *****s and other bad names ,hear this, its you who are *****s because you pretend not to see even when you can see and you think Haa Hiiii will make Zambia heaven on earth even when has done nothing to developers his mothers village .you can know someone even in small things. ECL will be even when you hate him.so he will continue ruling you even as you call all bad names, make these word and prove me wrong in 2021.

  21. Katele Kalumba is an intelligent man. I can’t believe he has sunk so low. A substantial amount of that debt is in people’s pockets and he’s saying they borrowed for investment? What investment? Overpriced roads? Whoever is supporting PF either njala yamunyokola or he’s benefiting from the corruption and stealing.

  22. Mubanga you are very right just don’t mind about those who just politicking we know that even if you do what they not appreciate coz you are not Ha Hi coz remember that you can not be president of upnd if you are not haisha

  23. 2021 we need to unite and fight against this pf like the way we did with bill 10. Such reasoning is very dangerous this grown man knows how we unshackled ourselves from kaunda’s debts now he wants us to fall into the same debt trap, this time it’s even worse the Chinese are taking over our country, poor citizens are losing their land. Katele doesn’t care that future generations will have to pay this huge nkongoles he saying this because he is benefiting together with those getting bribes and over inflating contracts

  24. What kalumba is trying to say is even the USA , uk , South Africa etc owe money , but what he is not saying is that those countries are major manufacturers and exporters of machinery, planes , cars , in fact everything while Zambia imports everything and manufacturing next to nothing

  25. A debt of $10b with a debt ratio north of 90% and you a so called former finance minister dont see any alarm bells here.
    How is govt going to deliver services with less than 10% left in coffers?

  26. We are all know you are hungry and looking for a pay check. You are talking about the obvious , It’s the sustainability of the debt that everyone , including the World Bank are concerned about.

    Government has wiped out the foreign reserves , they are unable to pay municipal workers, the disaster fund to manage the draught has been wiped out, and etc. The list is endless and you want to pretend that you have solutions to the looting of state resources. Help us deal with the procurement of fire tenders, the road construction tenders and etc.

  27. Katele who used African magic to hide from the law but anyway spent some time in jail rightly or wrongly does not explain or give proof of his assertions.

  28. It’s really sad to hear such kind of insults especially to elderly persons such as Dr. Katele Kalumba insults won’t take us any where.Let us respect Human dignity.

Comments are closed.

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