PF Deputy Media Director Antonio Mwanza has said that the Government has not defaulted or failed to pay back the Euro Bond.
Mr. Mwanza said that the Government has put in place a comprehensive debt restructuring strategy adding that Zambia is not the only country that has asked for debt cancellation or suspension of interest as it is a global phenomenon, adding that that only China will record growth of 1% because the COVID 19 has resulted in a recession across the world.
Mr. Mwanza said that the money that has accumulated as debt in Zambia was used to spar visible development in the country and that all countries in the world borrow, and what is important is how the money is used but stressed that President Edgar Lungu has directed that the country should not contract any more debt from the international market
The PF Deputy Media Director said that the PF Government has invested heavily in infrastructure development and a specialized hospital in order to stem capital flight.
Speaking on 5FM Radio today, Mr. Mwanza said that Zambia today is boasting of bringing back the Mununshi Banana Scheme in Mwense District, Luapula Province, adding that the Kafulafuta Bulk Water Project will connect one million people on the Copperbelt to end water challenges.
Mr. Mwanza further said that the Kafue Bulk Water Project which is 90% done will see water challenges in Lusaka become history.
The PF Deputy Media Director also said that the PF Government has increased the storage capacity of Lusaka Medical Stores from 9000 to 33 000 adding that medical hubs have been built in seven other provinces to stabilize the supply of essential medical drugs across the country.
Mr. Mwanza said that critics have failed to criticize the 2021 proposed national budget because it has responded to the needs of Zambians and that even UPND President Hakainde Hichilema is happy because he will benefit from the 40% import tax on processed beef products as it will result in sourcing such products locally.
Mr. Mwanza also said that President Edgar Lungu has appointed more young people than any President in Zambia and that the Ministry of Commerce is giving loans for aquaculture while the Ministry of Livestock and Fisheries is giving loans for goats and chickens, and that youths should also take advantage of cooperatives to venture into gold mining and that the PF Government has helped 30 000 youths that have been sponsored to go to school in form of bursaries.
I have just one problem with all this. Who is government spokesperson kansi? What is this article about?
“Zambia is not the only country that has asked for debt cancellation or suspension of interest as it is a global phenomenon” please Mr Mwanza speak for Zambia I personally don’t care about other countries
Antonio, your job is at PF secretariat. Comment on PF fights caused by Lusambo on copper belt, comment on aggravated robbery PF charged Mucheleka.
Antonio, government thinks you have a job in a ministry, that’s why they never employ you.
Who is asking for an explanation from you? We are done with you guys and are now listening to the owners of the money. Please let the lenders talk.
Mwaiche, Antonio, You are showing signs of dropped baby syndrome. I blame Nawakwi for not nursing you properly during your political formative years.
Exactly what I told the f00lish illiterate upnd diasporans who think they are economic experts and yet are mere toilet cleaners there abroad
What mere toilet cleaners. We shall make sure you do not get relief from the bondholders and IMF does not give you anything. Do you understand why since 2016 your IMF loans are not approved.
As a nation we need a commission of inquiry to find out where the money borrowed on behalf of the Zambian public has gone. This is a serious issue. You can’t just leave us munkongole we don’t know about and you think everything is okay. No, it is not okay. We want answers.
Government has not defaulted or failed to pay back the Euro Bond-Antonio Mwanza
When you ask for more time from your creditors you have defaulted or have failed to pay . You want more time to find where to borrow and pay the interest. These guys thought they would perpetuate this wrong doing but this is now a correction.
Pamushi paluba umukote, cimbwi anya imfwi.
Zambia goes broke, Lungu gets rich. I will let you be the interpreter.
Look let some of us who have been to school educate you. The hyena’s digestive system will take some 30 hours for food to travel from end to end. Therefore the day the mukote dies wont be the day the hyena will sh1t the grey hair. It will be the next day. Too late to do any Sherlock Holmes. And correction: The actual saying is Ubushiku umukote alubile chimbwi anya imfwi.
No one is disputing the buildings , we are condemning the lack of progress there after because of the high debt repayments for those buildings……
When one buys and moves into a nice house in the upside of town , people expect to see a corresponding positive change in how that person looks……
Not , he has moved up in property but still wears ripped cloths and no shoes….
Same with those buildings this dim wit AKA Zambian citizen is pointing at ….nice , but people’s living standards are dropping ???
What’s the use of infrastructure when the locals are in poverty ???
We are better off with infrastructure allover the country than billions in reserve without infrastructure in the country. Money in reserves deppreciate while infrastructure appreciates depending on how the citizens make use of such infrastructure to create wealth for themselves. Eg, good roads can enable farmers to maximise their production potential to realise huge yield and ship their farm produce and products to markets in very short shipment times and with no serious costs for vehicle maintenance due to reasonably good roads. Once all these power plants are fully operational, business houses will be in full production with easy reach to markets due to unloadshedded power supply and good roads, respectively and not forgetting state of the artports for local and international air ways…
… state of the artports for local and international air ways.
Talking of inflation- the west are badly hit. There are millions upon millions of job loses and companies simply broke and closing down. UK’s super have started food rationing in biggest supermarkets. For certain foodstuff three items only per customer are allowed.
The poor economic situation in Zambia is not only confined to Zambia. In fact this is a continental problem for Africa’s slowness to develop and do business trans-africally. It is this dependence on overseas countries that the entire continent is so poor. Mind you, Africa is the largest import of anything from the other global regions. If we can start producing tractors, trains and other vehicles and computers and other technological gadgets using our…
… vehicles and computers and other technological gadgets using our abundant resources and trade with ourselves within Africa that will be the day we will be a superpower and no country wish to see Africa being a superpower, so, they give you handouts to delay or totally stop it. And that is why there is even covid-19, if you are sleepy.
The fact of the matter is that PF government led by a thief Edgar Lungu is cashless.
They have run out of cash and trying to defer interest payment is to give them an allowance to borrow somewhere and pay the loan interest.
So those of who think they are not defaulting, what is it?
If they have the money let them pay, it’s business.
Why do you borrow in the first place if you know you won’t afford to pay for it?
Zambia’s assets abroad will soon be attached to recover the lenders’money.
Quite embarrassing to have low level headed government.
PF must go!
Just because other countries have nkongole even us should have? Is this supposed to make us feel better? Antonio you joined a failed project(PF). We are on the verge of being declared bankrupt. Nipano tuli
@8. Africa is the largest importer of…
@9. …and no country wishes to see Africa…
When did the cader from FDD ever become a ministry of Finance spokesperson. This huge unemployment issue in Zambia is comprising our good young people. This good young man has to eat
Of course government will default, you must be a serious dandala head to think of the contrary, where is the money simply going to come from. Advice was given over over borrowing, but arrogance and insolence has caught up with us, in life it is always important to listen to advice, Shaa. The chaps kept saying we are within the borrowing threshold, how can borrowing 104% of GDP be within the threshold, Shaa
Wise timing
“….. If we can start producing tractors, trains and other vehicles and computers and other technological gadgets …”
How are you going to produce all thst when you have borrowed your selves into a corner ?????
The global economy is suffering because of covid , but other countries produce high end goods for export and will soon get out of their debt.
Zambia will never pay off that 18 billion, not in 50 years.
Keep cheating your selves….
I belong to PF but my confession is that the boy is very argumentative. In life, it is better to acknowledge ones mistakes so that you improve. Look at the poor state of the economy. The decline which started way before Covid as confirmed by the immediate past Bank of Zambia governor was and has been visible. We were by far better in the MMD government
I am independent and very non partisan but the truth is that these PF guys have really destroyed this country. You cant have a country where by all economic indicators have gone down from the time they took over. So where is the improvement ever since they took over, they cant even talk of climate change because we have had climate change even in the past but governments before developed resilient economies, Covid is very new and the decline started before then, but because they are so used to compromising the truth, they are mentioning covid now
Wise timing
You don’t just go out and finish all your money on long term money earners…
What PF did is like a farmer with a leaking roof and his marchinery getting spolit by the rain , instead of fixing the roof, he goes on to use all his money to plant long term crops and ends up with decaying marchinery only to need to borrow money to fix the roof and replace the marchinery….
This is where we are in Zambia. That infrastructure will start paying back maybe in 5 years time , meanwhile we are stone broke…
Mwanza u are not qualified to rap on such matters of finance. U are not spokesperson for ministry of finance. Please learn to keep to your lane.
The minister of finance himself has admitted that we can’t pay thats why we are asking for restructuring. The same is all over the international news and this puppy is still denying. Maybe he thinks he won’t be affected by the financial tsunami which is coming. He will be in for a rude shock.
Wow we are free to utter our thoughts about different issues concerning the country, I would urge the PF cadres to leave certain issues to govt. We cannot afford cadres giving statements on such important issue. Antonio speaking like he even attends any govt meetings regarding the issue. Please imwe ma cadres stick to internal issues of PF and insulting the opposition and stop issuing statements regarding matters of such gravity.
Sycophancy knows no bounds. This man has gotta eat. But oh the lengths he is going to do so. It is nearing embarrassing levels as we can read from the utter rubbish he is regurgitating here.
@ Spaka nice counsel for @ Wise timing. You just used my words. I remember someone saying ” we won’t eat roads’!! Those words are ringing true now.
Ba diaspora you can down vote all my comments all you want. However, it won’t change the facts that I state here. The fact that you are reacting means you have read and my comments hurt you. A wise man once said the truth hurts
Antonio mbwanza even in when I hell can say this is not fire..it’s simply steam mixed with light coming from climate change
Hope he isn’t fraudulently on GRZ payroll like the DCs; who we all know are NOT Civil Servants
LT , Why do you like covering PARTY CADRES on important national issues… Lets get it from Hon Dora Siliya the official Government Spokesperson