Tuesday, June 18, 2024

CSPR urges Zambians to support debt restructuring programmes

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A representative of the Civil Society for Poverty Reduction (CSPR) in Southern Province, Partner Siabutuba, says the debt restructuring programme which government embarked on should be supported by all Zambians as it will significantly contribute to the actualization of the eighth National Development Plan (8NDP).

Mr Siabutuba has explained that debt structuring is a huge priority for Zambia and hence the need to support the government as it makes certain decisions, some of which might be very unpopular.

He observed that one of the unpopular decisions which the government has made in the removal of fuel subsidies.

He said it is important for citizens to understand that the money which will be saved from removal of subsidies is channeled to other sectors of the economy in order to actualise the 8NDP.

Mr Siabutuba has commended the government for still prioritizing free education, skills training, providing jobs, and increasing the Constituency Development Fund (CDF) amidst a stressed economy due to debt.

He noted that because of such economic policies, Zambia’s image to the international community is now improving, making it possible for the country to borrow from cheaper sources in order to finance its development agenda.

He was speaking in Choma during a stakeholders’ training workshop on public debt monitoring and management. The workshop, which was organised by CSPR, was attended by the media and civil society organizations (CSOs).

Mr Siabutuba has since challenged CSOs and the media to monitor developmental programmes financed by borrowed money to ensure prudent use of such funds.

Meanwhile, some civil society organisations have called for improved communication on the acquisition and expenditure of public debt to enable CSOs participate in monitoring of programmes financed by borrowed money.

Maggie Mbulo, a member of the Young Women’s Christian Association (YWCA) said it is important for government to communicate to people at the grassroots regarding borrowed funds and the implication of mismanaging them.

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