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Alba Iulia
Monday, January 30, 2023

New Heritage Party wants transparency over IMF Deal

Feature PoliticsNew Heritage Party wants transparency over IMF Deal

The New Heritage Party has challenged government to reveal its alternative plan if the outcome of the Debt Sustainability Assessment (DSA) and Creditors Committee discussions do not succeed in light of the complexity of creditor coordination.

Party President Chishala Kateka says there seems to be an impasse or obstacle in the discussions with Zambia’s creditors.

Ms.Kateka says it has now emerged that the IMF have been waiting for the Debt Sustainability Assessment and the outcome of the Creditor’s debt relief discussions.

She says Commercial creditors are not part of the creditors committee yet they hold 46% of Zambia’s external debt while China accounts for 22%.

And the Heritage Party Leader has asked government to share its plans for the way forward should the $1.4 billion IMF bailout package not actualize and what plans it has for the repayment of the $750 Million Eurobond that is due this year in September.

She said Government has not openly shared information with Zambians regarding the IMF programme but has only pieced together through snippets only after the UK Minister of Africa’s visit to Zambia.

9 COMMENTS

  1. INDEED THE SECRET IMF DEAL IS THE ELEPHANT IN THE ROOM. AND WHY IS IT CALLED A “STAFF.. SOMETHING” DEAL” THE OPPOSITION SHOULD DEMAND FULL DISCLOSURE IN PARLIAMENT.
    THE SECRECY ONLY FUELS SPECULATION SUCH AS THAT THE DEAL IS ABOUT STAFF REDUCTION IN THE CIVIL SERVICE AND LOCAL GOVERNMENT. BECAUSE THOSE ARE THE STANDARD IMF RECIPES AND NOT ABOUT HELPING TO GROW THE ECONOMY LIKE THE MUCH-MALIGNED CHINESE DO.

  2. WHEN HAVE THE BRITISH OR THE USA BUILT US A POWER STATION OR SIMILAR INFRASTRUCTURE APART FROM COSMETIC AID?

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  3. 2 most beloved women in Zambia are Inonge Wina and Chishala Kateka.
    I love them more than my Latina woman of 7 years.!

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  4. IMF,our late President Dr Kenneth Kaunda talked about it very much…….the question is what is IMF?……

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  5. Don’t blame the IMF. They only respond to the request for a loan from the UPND government. And when someone asks you for a loan, wouldn’t you put up the conditions? I would. And everyone knows what the standard conditions are from IMF: no more subsidies, fight corruption, prudent financial governance. So, don’t blame IMF, blame Bally.

  6. Imwe mwankole and Kateka did the IMF give that debt? If not then who accumulated this Debt on your behalf? Because all of you Bemba stoogies didnt ask Micheal Sata to shed more light on how he was spending the borrowed but you were all quiet and eating with him in Chinsali-right? No one spoke including you Kateka,cos you were and that time you were very active in the Banking sector but were mute and infact you are also a beneficiary-u need to be investigated,that could be the reason why you are talking against and siding with mwankoles. No because its pay back time. here you all talking left right and center, You dont have clarity on why the money was borrowed,let alone spent,so how are u going to ask for clarity on how money ll be repaid? Besides repaid by who? UPND didnt take those…

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  7. The UPND should take this IMF and use it however it feels, doesnt owe anyone an apology. Lungu did so and everyone just kept,UPND take it and use your own way, you deserve it. Never listen to widowed politicians who will never truly become a president accept of someone died they inherited otherwise in their own capacity they can never make it to the thrown, just stone throwers from outside-they ll never be inside. Esp that UPND doesnt buy in political prostitutes,its a checkmate. they were used to jumping ship from one political party to another for the sake of eating. Where is Edith Nawakwi now? Where is Dora Siliya? Next its this hairless woman.

  8. The conditions may not be much different from the SAP, HIPC ones of the 90s with mmd
    It’s probably embarrassing to come out to announce we’ve once more gone down that far, only it can be shorter this time

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