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.