President Hakainde Hichilema has said that the approval of the International Monetary Fund (IMF) finance program for Zambia is an endorsement of the UPND administration’s credibility to restore the economy.
President Hichilema says his administration has managed to secure a deal within two months yet the PF administration failed to do so in seven years because of a lack of credibility.
He says the UPND was elected on the assurance to restore the economy by dismantling the country’s debt.
Speaking on Arrival from Malawi where he had gone for bilateral engagements in the morning, President Hichilema said the IMF program is necessary for Zambia’s quest to restore the economy.
And President Hichilema said he has agreed with his Malawian counterpart Lazarous Chakwela to keep borders open for trade.
He said the two Presidents also talked about the works at the Mwami and Muchinji border to establish a one-stop border post aimed at enhancing trade.
President Hichilema said he also discussed issues of insecurity in some parts of neighboring Mozambique and DRC with Dr. Chakwela in his capacity as SADC Chairperson.
He expressed concern that failure to address the insecurities in the said countries will affect peace and trade in Zambia and Malawi.
Meanwhile, Finance and National Planning Minister Situmbeko Musokotwane has encouraged Zambians not to be fearful of the economic programme that has been reached between the government and the International Monetary Fund -IMF.
Dr. Musokotwane says that the staff agreement reached with the IMF intends to deliver a better living condition for the average citizen.
Speaking when he delivered a ministerial statement in parliament today, Dr. Musokotwane said the UPND Administration is of the firm conviction that spending government money on the youth and education is a worthier and a more beneficial measure than pending
on fuel subsidies.
He added that this measure is beneficial in the medium-long term as it will allow government to enhance allocation of funds to the Constituency Development Fund, and pay off outstanding pension arrears.
Dr. Musokotwane further said the measure will enable government hire 30 thousand teachers, eliminate tuition fees for secondary schools and bring back the meal allowances that were abolished by the previous PF government, to college and University students.
The Minister of finance and National Planning has also disclosed that with support by the IMF, government will administer reforms aimed at increasing checks and balances required for government to borrow money and increase revenue mobilization.
Securing a debt has now become an achievement???
Really laughable. We’re in for hard times . Dununa forward reloaded
The same IMF program you are celebrating can so easily make you a one term President.. So tread carefully bwana
Just means you have made concessions. How do you brag about getting a loan mr president? PF could have agreed to everything and obtained the loan as well.
Like Mama Kateka said, if the Government is open and truthful then the citizen will understand, ihope they do. And sorry but we did not lie during campaigns. We had no idea how deep the pit was that PF had dug. HH and Musokotwane are the best Duo, Dynamic Duo. I have faith that they will pull it off. I would rather listen to Musokotwane than Sean T , he is a realist.
Securing a debt is an achievement considering Lungu and his cronies failed
The past shows we cant manage our own affairs So help is needed
This man is a joke. He beat the worst president Zambia has ever had after being defeated five times and still thinks he is the best. It’s like marrying a community pu$$y after all the guys have run through it. Anyway, PF already put in the ground work with IMF. The only problem was that Lungu was not willing to take away fuel and electricity subsidies.
Mr President look at what conditions are
Attached to this loan?Will Zambians accept
These conditions? look at how will Zambians
Benefit from this loan?
There is a difference between failing and refusing bad conditions. Accepting bad conditions can be taken as failure too. It depends on whether you a capitalist or socialist.
Malawi can’t provide HH a luxury bed compared to one he can’t leave in New Kasama.
Feel is expensive to commute to work. And those guarding you at both places need their wife’s warmth.
Ba HH go sleep at Nkwazi house, even on floor it’s OK, you are on duty bwana.
UPND administration and IMF You’re not on the island. There’s so many Zambians living in different parts of the world, some sponsored by the government , some by church and risk takers and all I’ve experienced the world in different ways. Take it with a grain of salt.
UPND administration don’t count your chickens before they hatch.
Hahahahahahah, awe PF yaume, some people cannot talk unless they use a yardstick the PF. HH learn to move on and put the PF era behind you you are no longer in opposition. Remaimber we are yet to see something tangible that you are to achieve. Self praise is a very dangerous route to take.
Yes you have sir, kudos. Now waiting to hear details. Please , your officials should not steal or misuse the money because you are borrowing on our behalf and those not yet born.
Mauya you took the words out of mouth! Imagine! This under 5 thinks getting a kaloba deal is now am achievement. Oh how the standards have been dropped to. Ecl left amazing infrastructure meanwhile hh is proud of securing kaloba hahaha
Ba President naimwe. Its like celebrating that you have been taken on by Smith Allanson’s farm as a slave
UPND and IMF have Something in common: they keep rewarding People associated with GRZ.
Why was the PF government having meetings with the IMF with a view to borrowing from them? This deal is the condition for starting debt restructuring discussions with bondholders. How did the PF think this debt was going to be dealt with after defaulting on it without shame?
You are celebrating increasing fuel and electricity which will result in the cost of living going up for zambians?
Since when did borrowing become an achievement?
Anyway, Wait for the results from zambians as you implement the IMF conditions.
Bwana Musokotwane, where are you going to get the money to continue providing all these freebies you are talking about after this IMF loan money is exhausted? Free meal allowances, free education, free, free, free! And yet you are letting the Mines pay no significant taxes whatsoever. So again, where are you going to get the money to continue providing all these free stuff? Lord have mercy!
I am reading through the thread above of those bloggers criticising securing the IMF deal…could you please give the President suggestions where he would have got $1.4 billion at interest rates lower than what IMF was offering? China-EXIM Bank? Bank of Zambia? ZANACO? EUROBOND?
And no I am not affiliated to UPND or have direct links to any UPND members in the UK and no again I don’t have any uncle or relative who was seeking employment from HH or UPND.
Now am 100% convinced HH is not normal….these are the same leaders PL Lumumba talks about….Zambia can easily make 1.4 billion dollars without any Kaloba….Celebrating debt…kikikiki wonders will never end..Typical African and am afraid he’s not reading the mood of Zambians right now…..2026 out of office
Sometimes you don’t comment but let the actors see for themselves what damage they will have done to themselves and other people. They have the power let them use it and like the PF it will tell at dusk not at DAWN.
Dumb and Dumber….HH and Nalumango
ZAMBIANS open your mind. This great achievement from OUR PRESIDENT.This loan is payoff Eurobond AND CHINA, The CHINESE have be done away with. They ARE GRABBING LAND FROM US through non payment of loans.
I hate PF . Why making us indebted to China.
God help ZAMBIAN.
Hmmmm ZAMBIANS open your mind. This great achievement from OUR PRESIDENT.This loan is payoff Eurobond AND CHINA, The CHINESE have be done away with. They ARE GRABBING LAND FROM US through non payment of loans.
I hate PF . Why making us indebted to China.
God help ZAMBIAN.
Saulosi – You say Zambia can easily make $1.4 billion for 2022 which is next month…please explain how? Who you going to emergence tax?
Typical under 5 President. Celebrating an IMF deal that brings suffering to your own people while giving away mineral royalties to foreign mining firms. What foolishness is this? Cry my beloved Zambia! Dr. Chitumbeko, that old economics teacher with an old economics Phd, even says young people should celebrate the removal of fuel and electricity subsidies because they do no drive. As one Bonaventure Bonaventura said today, it is like increasing TV levy and telling a visually challenged person that they should celebrate this because they do not watch TV after all.
The whole president happy with conditional deal. ati within the short space we have a deal shows how weak you are! Drop the subsidies is the lower limit as you integrate to maximum hunger.
Good afternoo
Basa. PF did not fail to secure the IMF funding, but they were mindful of the adverse effect of such move to the Citizens which you are blind of or intentionally doing. The memories of the 90’s and the misery are still fresh. What we are going to see is wage freeze, recruitment freeze, closing down of businesses due to lack of liquidity, unemployment, high interest rates, high cost of doing business, high cost of living, widening gap between the rich and the poor etc. When this happens the population develops defensive and survival mechanism of all sorts resulting in the eroding of trust in the Regime and subsequent removal.
I REMEMBER CHILUBA BRAGGING THAT HE HAD PRIVATISED VERY MANY PARASTATALS WITH THE RESULT THAT MANY FACTORIES WERE SUBSEQUENTLY CLOSED AND MANY JOBS LOST. AND THIS WAS AFTER EFFECTNG IMF CONDITIONALIES.
CRY FOR ZAMBIA!
@29 Edwin Mweeni
I agree with you 100%….looks like PF didn’t like the deal but UPND is a puppet of the west…..and 80% of the money in HH’S and Musokotwane’s pockets….
Kikikikikiki Ka Chiluba nako! Awe mwe! He even made HH a millionaire
This is a very funny party…they criticised PF for getting loans. They opposed PF every time they want to get a loan..Well them just after being 4 months in power they praised themselves for getting a loan and laughed at PF for not getting a loan kikikiki lol
HH says “the UPND was elected on the assurance to restore the economy by dismantling the country’s debt.” …Good one HH… you’re saying let’s fight debt with more debt? or fight fire with fire? Is that’s clever? That’s actually what one fool did at one time, he borrowed money to pay other debts until he was trapped in a corner! He lost everything including his wife… Haaa!
With all the resources we have we shouldn’t be beggars and be proud when we succeed in getting a loan. We have been independent for more that 50 years. ‘In the Abundance of Water, the Fool is Thirsty’ – Bob Marley.