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President Lungu Calls for Debt Relief or Cancellation of Debt Among All OACPS Countries

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President Lungu in Meeting
President Lungu in Meeting

President Edgar Lungu has called for the debt relief or cancellation of debt among all African Caribbean Pacific member States.

Speaking when he took part in first-ever virtual First Extraordinary Inter-Sessional summit of Heads of State and Government of the Organisation of African, Caribbean and Pacific States (OACPS), President Lungu said that the Covid-19 pandemic has caused massive disruption to lives worldwide.

“Like other OACPS member states, Zambia has not been spared, recording 1062 cases and seven deaths reported as at 28th May, 2020,” the President said.

President Lungu made an intervention statement citing five proposals that member states must consider in light of the Covid-19 pandemic.

The proposals include:

  1. Soliciting for debt relief or cancellation for OACPS member states;
  2. Establishing a virtual platform for sharing best practices and measures on the fight against Covid-19;
  3. Enhancing research and local development of vaccines and treatment for Covid-19;
  4. Adequately mobilizing resources from local and international community; and
  5. Directing respective ambassadors and representatives in Brussels to lobby for enhanced support from the European Union.

The theme of the Summit, chaired by His Excellency, Mr. Uhuru Kenyatta, President of the Republic of Kenya, was Transcending the Covid-19 pandemic: building resilience through global solidarity.

President Kenyatta said Covid-19 had hit industries had and that there have been economic disruptions worldwide. He said the dire situation has been compounded by climate change where, Africa in particular, has suffered flooding.

He said the Summit was a great opportunity for Africa to speak with one voice and engage development partners to come up with concrete actions.
President Ramaphosa said Covid-19 has shown that countries of the world are interconnected and interdependent and feared that the worst could still come if the world did not act decisively in unison to stem the pandemic and its consequences.

Mr. Ramaphosa, speaking as African Union chairman, called for two-year debt relief and said sanctions against Zimbabwe and Sudan must be lifted. He said the AU also condemns the killing of African American George Floyd by a white policeman in the United States.

And during the discussions on the Key Strategic Partners, Canadian Prime Minister Justin Trudeau said the world needs to come together because “we can only prosper when all of us prosper.” He said, “only together can we build stronger and resilient economies.”

The OACPS comprises 48 countries from Sub-Saharan Africa, 16 from the Caribbean, and 15 from the Pacific.

Other leaders who spoke were United Nations Secretary-General Antonio Gutteres, European Council President Charles Michel, French Prime Minister Emmanuel Macron, Norwegian Prime Minister Erna Solberg, and Australian Prime Minister Scott Morrison.

The OACPS members who spoke included Barbados Prime Minister Ms. Mia Mottley, Tuvalu Prime Minister, Mr. Kausea Natano, Papua New Guinea Prime Minister James Marape, and Gambia President Adama Barrow.

Others were Fiji Prime Minister, Mr. Frank Bainimarama, Jamaican Prime Minister, Mr. Andrew Holness, Congo Brazzaville President Denis Sassou Nguesso, Seychelles President, Mr. Danny Faure, and Guinea Bissau President Umaro Embalo.

Also present was OACPS Secretary General Georges Chikoti.

This is according to a statement issued by President LUNGU’s Special Assistant to the President for Press and Public Relations ISACC CHIPAMPE after the meeting at State house.

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44 COMMENTS

  1. Debt relief will not come to countries where there’s evidence of financial mismanagement and corruption. The bondholders know this through their fund managers. Bondholders are pensioners and university endowments in most cases. They need the money. It will be tough to get debt relief. If it comes, it will go and it must go to well-run countries that. Further, those countries whose leaders hv stolen public money, the international community must help to seize the money.

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  2. Debt relieve ? After mismanagement of all the loans? You people have no shame. Let other leaders where loan funds have been done well can talk on your behalf.

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  3. It shall be well and we shall overcome. We as Zambians went through thick and thin before and the latest concerns shall be things of the past. We applaud all right and positive thinking Zambians for their noble contributions, even in their small way, to the well being of our economy. Everyone of us should participate. Be POSITIVE.

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  4. Look at lungu , running for debt cancellation so he and his gang can steal with impunity and have excess money to pay their unemplowed thugs to suppress the democratic rights of Zambians ????

    Even if you gave lungu $20 billion , under him in 5 years Zambia would be back begging the IMF and donner countries for relief……

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  5. Two things hit me here…Lungu asking for debt relief..?is it not recently when he told us he will continue borrowing..no one can stop him from borrowing to develop”Zambia”…he then goes on to condemn the murder of George Floyd…Seriously how many Zambians have died under the police in this PF regime…

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  6. No one is going to cancel Zambia’s debt. Its really simple.
    Dont think that your lenders have not been watching you plunder the money you have been recklessly borrowing.
    Least of all dont think china will cancel your debt. Its their ticket to colonise Zambia.
    All the overpriced contracts. All the externalised monies.
    The average zambian may not be fully aware, but the international community knows pf. The debt will not be cancelled, not even by one cent.

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  7. Edgar Lungu and the PF over-borrowed and put Zambia in a debt crisis.
    From 2016, ECL borrowed money mainly from China without parliamentary approval.
    Michal Sata only got less than $2.5 billion in Eurobonds.According to the 2018 UN Debt Statistic Report , Zambia has an external debt of $19 billion.
    So ECL is responsible for Zambia’s economic mess.
    He should be the last person to talk about debt cancellation or relief.

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  8. There should be no debt relief for Zambia they must first learn a bitter and hard lesson so that future regimes can learn to govern properly. The president is only soliciting for campaign money. PF has been telling us the debt they contracted was very sustainable and they have been wasting money on useless things with corruption very much prevalent in this government as well as theft of public money. Let there be no debt relief for Zambia, had our government cared for people they wouldn’t be as reckless as they have been with the country’s meager resources.

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  9. These thieves, why were you borrowing when you knew you can’t afford to pay back?

    It’s business to the lenders and some of the loans haven’t reached overdue age analysis on the books of the lenders.

    The borrower for fear of defaulting is already calling for debt relief after embezzling the borrowed monies.

    Be serious Edgar Lungu and i doubt if your voice will make any impact. For i know it was just a talkshow.

    Meanwhile PF must go!

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  10. As for the killing of floyd…..he is always the last one on the scene. All others have already responded. Thats when he arrives on the scene and repeats what has already been said by the real leaders.
    As for debt relief, there is no sane organisation that would cancel the debt of a country that is full of irresponsible thieves that borrow to plunder.
    Its like having a guy who comes to borrow from you claiming he need to buy mealie meal for his starving family but he uses the money to buy beer and go clubbing. Then he goes to your neighbour, borrows more and buys more beer, clubs more and them comes and demands that you forgive his debt!
    Who in their right mind would give debt relief to such a person.

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  11. Zambia does not deserve any debt relief unless this regime stops the corruption in the government and theft of public resources and begin respecting the rights of other people and institutions that have different views. The government of Edgar is useless targeting zambian owned companies to destroy them while protecting foreign entities that abuse the zambian people. They hinder opposition parties from conducting their business and on top of that want to manipulate the constitution to suit the thieves. No debt for Zambia please, last time they stole money meant for poor people and it is a known fact since the owners demanded their money back.

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  12. There have been questionable deaths caused by the PF in Zambia and police brutality but government didn’t do anything. Kadafi they killed, vespers, mapenzi, the NDC youth chairman who got hacked by the PF luanshya all died without government doing anything, there was gassing in Zambia induced by government that killed 50 innocent people and government did nothing, there was a daylight attack on sean tembo and his people for peaceful demonstration nothing was done too. Then this hypocrite lungu has the guts to say they stand to condemn the death of George floyd? Who does he think he is an angel? No Zambia is worse under lungu.

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  13. Hahahaha, Zambia is not hard hit by covid-19, there are genuine countries hit by the pandemic, in Zambia the pandemic is the PF government itself. What is going on in Zambia are self inflicted wounds. Those seven deaths in Zambia only 2 may have genuinely died from covid-19 but the rest just died with it or simply used to prop up the death toll. Kaizer Zulu has been saying we doing well on our own so why the need for debt relief?.

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  14. These thieves, why were you borrowing when you knew you can’t afford to pay back?

    It’s business to the lenders and some of the loans haven’t reached overdue age analysis on the books of the lenders.

    The borrower for fear of defaulting is already calling for debt relief after embezzling the borrowed monies.

    Be serious Edgar Lungu and i doubt if your voice will make any impact. For i know it was just a talkshow.

    PF must go!

  15. Am not for debt relief whatever it is, our leaders are so corrupt. Don’t give them a second chance to mess up things.

  16. They borrowed reckless, danced and sontaed …now this shameless man is asking for debt relief.

  17. Did [email protected] ask patrons not to pay for the Kachasu they drank at his Chawama shebeen before he became President, whenever there was a Cholera outbreak in Chawama?
    If the answer is NO, why then does this Widow embezzling Mambala want free things, so he can plunder more & arm his illiterate St0rmtroopers like chi Cheeseboy -Coffindozer Lusamb0 to intimate Citizens???
    Lastly #[email protected]!

  18. Again to the international community,

    This from zambians who live the pain of having lungu , …….

    Pleas don’t give lungu any debt relief , he will only divert that money to pay his unemployed cader thugs to brutalise citizens and he and his gang will have a field monkey day looting……

    Unless you want another Zimbabwe in our region with millions of refugees scampering worldwide …….

  19. Hehehehe……some leaders think they will take advantage of coronavirus to ask for debt relief yet they embezzled the loans to their own advantage and their minions. And the people they are asking debt relief from are the ones worst affected by covid-19. Tiye nayonayo

  20. Climate change is off the table now. Soon as covid has been conquered it will be a new excuse. Ni tiye nayo zoona! Elo winangu minista afuna cabe ma apologies so he can exercise forgiveness! Viputa bati!?

  21. Lungu

    Don’t for one second think we have forgotten how more than 50 innocent civilians were burned alive on our streets because of your gassing our people and no one has been held accountable , you are infact shielding those accountable.

    Time when you will have to account for those 50 deaths as an accomplis is fast approaching…..

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  22. ulabeja mudala,no debt relief for you.reckless borrowing!!!!!!!!!!!

  23. Bandit of a President after you and your fellow PF bandits have chewed all the money now you want debt relief…you had less than US$1700 in your bank account in 2015 now you’re a multimillionaire…big pompwe makaka of a President now look what you’ve done to Zambia

  24. And chi Chikwanda who was misleading his clue less leader is quiet. What debt relief, be serious, and don’t even blame Covid because our country started rapidly declining way back before covid came on the scene, very incompetent President(THE WORST), what do you take us for. Waloba iyauma……

  25. KZ,WHAT IS YOUR TAKE ON THIS CZ PF ARE THE CAUSERS FOR THIS HEAVY DEBTS ZAMBIA HAS.ALL,THOSE COUNTRIES WHERE THEY GOT THESE LOANS LET THE LOANS BE PAID BACK CZ THERE HAS BEEN SO MUCH FINANCIAL MISMANAGEMENT.U ARE BUSY BORROWING AND BUSY PRAYING FOR DEBT RELIEF.WHEN,U BORROW IT GOES IN THE POCKETS OF FEW INDIVIDUALS WHO ARE CROOKED.BA DADDY TWAPAPATA,STOP ALL OF THIS PRETENCE. YOU,HAVE BEEN USED TO MESS UP THE COUNTRY AND NOW THIS IS WHEN U HAVE WOKEN UP NOW.COVID 19 HAS BEEN A COW FOR THERE MILK FOR THERE POCKETS.

  26. Looking for an easy way out of the mess. Zambia received debt relief in 2005 which provided a base for starting afresh. Here we are 15yrs down the line completely wrecked up. It took KK 27yrs to accummulate $7billion debt, Worst period of unsustainable debt has been within the last 8yrs. Shows calibre of those tasked with leadership and management of the nations resources.

  27. Just look at how the PF rats , kudos , Henry , KZ , Zambian citizen et al have scampered into the dark corners in the ceilings…….

    Only to appear when they smell HH …

  28. You steal with impunity then you ask for debt relief are you ok are you not ashamed to always beg and borrow when your country is so rich with mineral resources whats wrong with African leaders who bewitched you of always being beggars we need people who can transform this country not beggars.

  29. I want to start roll call for all those asylum seekers in diaspora. More so especially those in America. Due to current events there which have shown us how blacks are treated there abroad, we consider that your lives are at risk. Therefore I need you all to comment below with the words ” ni pema ” if you are alive. We still care for you even though you are filled with hate for your fellow Africans, more so leaders. You would rather criticise EC Lungu than criticise the leaders there who have done nothing to protect you based on your skin colour. You are a victim of inferiority complex. You are busy shouting Black lives matter and yet you spend all day hating and wishing death on African leadership.

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  30. The pandemic makes this call just. But from now onwards. There should be no borrowing without actual dollar/gold back up in Savings. So called sustainable borrowing is out of the window as it amounts to speculating against global economic trends.

    Its not fair for lenders to get large intrest rates in view of the pandemic and a general crash of world economies that surpass past depressions.

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  31. NO DEBT RELIEF FOR ZAMBIA UNTIL ALL MONIES STOLEN BY THE CURRENT REGIME IS ACCOUNTED FOR FIRST.

    AND ALL THOSE FOUND RESPONSIBLE FOR STEALING AND LOOTING GOVERNMENT MONEY MUST BE PROSECUTED TO THE FULL EXTENT OF THE LAW. WE NEED TO BRING THE THIEVES TO BOOK. THEY NEED TO DO TIME FOR THEIR CRIMES AND INJUSTICES INFLICTED UPON THE MAJORITY OF ZAMBIANS. ZAMBIA IS RICH IN HER MINERAL RESOURCES YET WE ARE ALWAYS BORROWING TO THE TEETH AND THEN AFTER STEAL WITH IMPUNITY AGAIN.

    WE THE HARDWORKING PATRIOTIC ZAMBIANS BOTH AT HOME AND ABROAD ARE THEREFORE APPEALING TO THE INTERNATIONAL MONETARY FUND NOT TO CANCEL ZAMBIA’S EXTERNAL DEBT UNTIL ALL MONIES STOLEN IS ACCOUNTED FOR. TO THIS LOOSER LOW LIFE KZ AND HIS CRONIES WHO HAVE CRIPPLED ZAMBIA’S TREASURY SHOULD DANCE TO THE TUNE ONE DAY…

  32. Cont’d

    WE THE HARDWORKING PATRIOTIC ZAMBIANS BOTH AT HOME AND ABROAD ARE THEREFORE APPEALING TO THE INTERNATIONAL MONETARY FUND NOT TO CANCEL ZAMBIA’S EXTERNAL DEBT UNTIL ALL MONIES STOLEN IS ACCOUNTED FOR. TO THIS LOOSER LOW LIFE KZ AND HIS CRONIES WHO HAVE CRIPPLED ZAMBIA’S TREASURY SHOULD DANCE TO THE TUNE ONE DAY FOR THEIR MISDEEDS AGAINST THE INNOCENT HARDWORKING ZAMBIANS. WE DEMAND CHANGE. NO DEBT RELIEF FOR ZAMBIA

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