Thursday, May 30, 2024

It is backward to think that Zambia or indeed Africa cannot develop without the IMF-Akashambatwa

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Veteran Politician Akashambatwa Mbikusita Lewanika has charged that there is nothing the International Monetary Fund (IMF) will bring to Zambia that they did not bring in the past other than impoverishing the country.

Mr Lewanika told the local radio station QFM that IMF conditions and their interest, as well as objectives, have never changed, recalling that when the United National Independence Party (UNIP) administration brought the IMF and the World Bank in 1986 it led to food riots in the streets.

Mr Lewanika said that it is backward to think that Zambia or indeed Africa cannot develop without the International Monetary Fund, stating that genuine development is always self-dependent, stressing that the country should first sort out the economy it wants as well as its political system.

Mr Lewanika said that the idea of foreigners deciding what the problem is, what the solution is and where to invest in a country is a major problem which must be addressed.

Yesterday the Government said that the International Monetary Fund will approve the $1.4 billion loan and associated economic program by August or September this year.

Finance Minister Situmbeko Musokotwane said that the discussions with official creditors to provide Zambia with the financing assurances it needs to get IMF board approval for the economic program will not take more than a month.

Dr Situmbeko made these remarks when he met IMF Deputy Managing Director Antoinette Sayeh at his office.

A the same meeting the IMF Deputy Managing Director Antoinette Sayeh urged creditors to expeditiously come to an agreement with Zambia on the debt relief so that the programme can be formalized.

The visiting International Monetary Fund Deputy Managing Director this morning met with the Public Accounts and Budget and Planning Committees at Parliament in her continued interactions with the government focused on recent economic developments.

Discussed at the meeting requested by the IMF team was the overall engagement of the Fund with Zambia including in the context of the ongoing IMF Bailout programme negotiations.

Also discussed was today’s Creditors meeting between Zambia’s Official Creditor Committee and the IMF, organized under the G20 Common
The framework at which the country will present its economic reform agenda and the progress made since it reached the Staff-Level-Agreement with the IMF in December 2021, reforms pertaining to Public Finance Management, Integrated Financial Systems and Public Debt Management in relation to what is happening in the region.

Speaking after the meeting, Public Accounts Committee Chairperson Warren Mwambazi said the members of the two committees probed the IMF Deputy Managing Director on the status of the bailout package among other issues that have been of concern as Zambia is pursuing the loan

41 COMMENTS

  1. ITS ALSO CRAZY TO THINK WE CAN GO FORWARD ON OUR OWN
    CONSIDERING THE LEVEL OF INTERLECT OF SOME OF OUR MP’S
    AND OUR BAMBA ZONKE ATTITUDE

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  2. It is infact dangerously so to have HH as a president. Nakachinda was right.
    He’s fixed in a white man box of economical ransom.
    He’s been outsmarted. They promised him the loan and gave him a go ahead on recruitments. And now he’s in fix. Whatever conditionalities they will bring in he wont have an option but to accept. Or else those 200,000 application letters his government is holding will start singing solemn songs.

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  3. Prince Aka please tell them in capital letters. In Zambia we have people that can’t think properly in leadership positions. We haven’t learnt anything from our history. Situmbeko , Felix & Bally were all there when what you’ve alluded to happened. The problem is that it’s Mambala Greg Mills that’s running our economy. So there’s no hope. We’ll end up raising our tempers while Greg is having wine at Community House. We’re doomed

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  4. Welcome back from slumber true son of the soil. People without history want us forget the anguish and agony that IMF bitter pill bring to the majority of the people. Yes they may help Govt balance the cashbook and inflation but these ‘improvement’ will not trickle down to the grassroots.

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  5. You guys in the Chiluba govt. sent us into the darkest era, as a country with your educated and know-it -all attitudes. We had so many expectations that were rudely shattered by your thievery and conmen ways. You paved the way for PF to come and steal, destroy and kill all sense of the Zambian people’s hope in their elected leaders in such open and blatant ways. Am sorry. I find it so hard to listen to you Dr. Lewanika. Keep your solutions to your self!

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  6. Aka, Akashambatwa Lewanika, the smart one… what wasted knowledge and experience! These are are the people who should be running our country. Where is the sister Bo Inonge Lewanika?

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  7. AKA – That’s the gospel that needs to come from politicians all the time but the onus is on every Zambian to be part of the larger dream.

    All western developed nations once lived in the stone age and started from the bottom. This is what we keep addressing all the time. The wealth, development, and money are all sitting idle in the Zambian minds just waiting to be actualized. And when one tries to set an example that we can do this – he/she gets called names, insulted, or the usual – that; it cannot work.

    • Hey mate, no I’m not Tarino Orange, 2 different people. I respect Tarino Orange’s comments though as he’s one of the few fair minded… although I disagree with him sometimes.
      I just don’t live on LT as I have a busy life outside LT blogging… so you don’t see me every day :(.

  8. Limited Edition – Even when I have left or commented whole day you are still calling me out…really laughable indeed

  9. Bo Akashambatwa Mbikusita Lewanika what is backward is still thinking you can develop with IMF bitter medicine …you seriously think if China or Russia listened to IMF they would be super powers today?

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    • These were the founding members of MMD, you would think even being after Presidential Adviser to RB he would be wiser now

    • @Tarino Orange, you seem to be contradicting yourself ? At comment #11, you appear to agree with Bo Aka, but here at 12.1 you are criticizing him… what’s going on?

    • Jigga …. – My point is if AFrica wants to develop it should look to its own solutions like the Chinese or the Russians, IMF is funded by the very countries that really dont want you to greater than them.
      Here somewhat I am agreeing with this blogger about Bo Aka coming back to finish stealing or profit ..I stand to be corrected by I also remember this man to be a CEO at Tazara….happy to enjoy a huge salary whilst the company sunk into the ground.

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    • At Tarino Orange, agree with your 1st point about finding our own solutions as a people. We should be running this world with our abundance of resources.
      Disagree with your accusation of Aka stealing… this man is no thief, and he’s actually been frustrated by ‘thieves’ and corrupt individuals for his failures to contribute fully to the running of this country.
      Reading blogger John Mule’s comments, I think he was alluding his ‘stealing’ comment to the IMF, not Aka.

  10. Matumbo are you ready to tighten your belt? Is this not the privatisation of stomachs-are the people of the lower ranks to carry the weight?

  11. I think Mr. Aka’s statements should be taken in the context that Zambia (or Africa) does not have debt. Yes, without paying someone from the little income Zambia has, it can certainly develop by managing those resources prudently. What’s the role of the IMF now? We are relying on the IMF to manage servicing the loans acquired by ill-informed (and sometimes uneducated) and corrupt leadership over more than a decade under the PF and part of the MMD leadership. It should be acknowledged that Aka has had a small part to debt accumulation by Zambia. As things stand now, you we have no power to call the shots if our primary goal is buy ourselves from the shackles of debt. Therefore, under these circumstances, without the help of another lender, it does not an economist to know that…

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  12. “….stressing that the country should first sort out the economy….” Why did the reporter not ask you how you propose we should do this given our current over indebtedness. Surely for someone who has been in government, AKA should have been expected to outline this and not just give pie in the sky answers. The current govt. sees this IMF support as a stop gap measure to achieving this “sorting out the economy” given our current malaise. What’s your realistic alternative?

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  13. I don’t agree with Mr Akashambatwa’s hollow and vain argument. First there is not a single person in Zambia that have ever argued that Zambia can only be developed by foreigners! The reality is that Zambia is heavily indebted and needs to resolve this to move forward. The question Aka should be answering is how to address the debt crisis to unlock resources for social and real sectors today without compromising inter generational equity. Second, IMF is just part of the levers government is using to address the debt problem and unlock resources for investment and social sector spending. This business of reciting failed UNIP ideas in the 21st century is so retrogressive.

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  14. Whatever you think you cannot get that loan if you think you can side step China. China is very much part of the globe money system. I said talk to China nicely.

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  15. Further down in history, ZAMBIA, then Northern Rhodesia used to develop Zimbabwe,then Southern Rhodesia. How did we become beggars when our resources were able to advance other countries?

  16. The reason why Africa has not developed is because of useles chaps like AKA. Who in my opinion is part of the original problem
    @Makunku Makunku your money is on point.

    The point is that the IMF does not develop any country…. countries use the IMF to develop them selves as the case for Vietnam which now becoming a top manufacturing country. A country once poorer than Zambia. The case for Malaysia, another country once poorer than Zambia, helped by the IMF and World bank.

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  17. What is the difference between Vietnam, Malaysia and Zambia?
    Vietnam and Malaysia have had leader with their heads screwed to thei shoulders, in Zambia we have had leaders with their head screwed to stealing, women and beer

  18. IMF…………the 1990s privatisation of companies that saw the sale of companies,job losses,destitution,death of families,death of companies,collapse of families, and the result of the enrichment of few individuals.

  19. IMF…………the 1990s privatisation of companies that saw the sale of companies,job losses,destitution,death of families,death of companies,collapse of families, and the result of the enrichment of few individuals.

    • You still haven’t said anything? Clearly Zambian was more developed post privatisation than in 1979 during UNIP . Just look at the economic figures in 2009 and beyond, except after 2011 when the country had a misfortune of PF leadership which ground the economy to a halt literally. Those of us who were alive in 1990 will recall how people spent nights queuing for bread and UBZ buses, such a shame !!!

  20. While I agree with most bloggers alluding to the fact that we need IMF to service our debt, Prince Aka’s point is still very valid. You can’t keep on paying debt by accumulating more debt, you will be in perpetual debt forever.
    We just need to be prudent with our measly resources… prioritise our spending and making more money with our resources and attracting investment… I know easier said than done but we should be looking at long term strategies.
    By the way let’s not forget that our debt was at one stage forgiven and wiped out cleanly but we got right back into more debt soon after. So debt is not excuse to be perpetually dependent on IMF.

  21. I’m convinced that this is why late president Chiluba once said ‘some of our people are so backwards, you could rule them for 100 years’ IMF is a business entity looking to steal from the power. We keep telling you this but it will take a generation to understand how our continent’s wealth has been looted over the past centuries by organisations pretending to help.

  22. Those referring to Aka’s time as a cabinet minister are lost. His serving as a minister is good enough reason to listen to him because he’s speaking from experience. He’s been through it and understands it better than those headless commentators.

  23. Wonders of life in this community ……………..when they were outside the game it was unwise to borrow,but when inside the game it’s wise to borrow…..who can understand the heart of man in this community……..we could know what pleases a man’s heart by his actions………what a man likes is exposed by his actions………

  24. Most bloggers here are empty headed PF zealots who even a red/yellow fly flew past their nose they would still argue that it didnt just because it was in the colors of the UPND. Their reasoning is first and foremost diven by !. Tribe (Bemba) 2. Party (PF). ANything that is not Bemba and not PF in Zambia, these zealots will always Bark. Zambia is bigger than any single tribe(worse if that tribe is not even indigenously Zambian), Bembas destroyed Zambia to the core and you Zambians never ever again should you dare put a Bemba on that seat ever again. Im not anti tribe but we saw it , how people were fired for being Tonga or Lozi or Kaonde etc, you all saw it and watched helplessly.Look at the tribalism that came fromi their Chief too-CHitimukulu?

  25. Tax was paid by all ten provinces of Zambia yet GRZ appointments only came from two provinces _ Northern and Eastern. Well we havent had much pf tribalism from Eastern(Lupiya talked of wako ni wako but that was not institutionalised tribalism as the PF one) other than just hearsays. Also we ve had a Bemba President before-Chiluba but Zambia was jst as united as ever,then came the PF who really triggered that Bemba tribal button and everything blow out of the bag. Even people who were not Bemba spoke Bemba when caught stealing or dealing in corruption or doing caderism, Thats how tainted the “Bemba” tribe will ever be. For now and a long time to come. To add salt to the injury, look at the current PF presidential aspirants? All purely Bembas!

  26. How does LT publish comments #31 and 32, from Jonathan Mutaware( or whatever his name is) purely tribal? On

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