Friday, June 14, 2024

President Hichilema Urges Swift Implementation of Debt Restructuring Deal for the Benefit of Zambian People and Economy

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President Hakainde Hichilema has said it is important to expedite the implementation of the debt restructuring deal in order to ensure that its benefits reach the people of Zambia and stimulate economic improvement. He specifically called upon the World Bank to take swift action in executing the debt restructuring agreement and assured that no obstacles would hinder the process.

President Hichilema acknowledged the critical partnership between the Zambian government and international financial institutions, expressing gratitude for the support received thus far. He also highlighted the government’s readiness to assist other countries in debt restructuring if the need arises.

During a courtesy call by the World Bank Country Director, Nathan Belete, at State House, President Hichilema expressed his appreciation for the bank’s support during the debt restructuring negotiations. The World Bank has already approved over $1.1 billion for Zambia through the Common Framework since the commencement of the discussions. This substantial support reflects the government’s commitment to fiscal discipline, reforms, and the country’s growth agenda.

Mr. Belete, who congratulated Zambia on the successful debt restructuring deal, pledged the World Bank’s continued commitment to building partnerships that drive economic growth. He expressed optimism about expanding the collaboration between the Zambian government and the World Bank in the coming years. Furthermore, Mr. Belete shared his satisfaction that the World Bank President would hold bilateral talks with President Hichilema, further enhancing the partnership.

President Hakainde Hichilema, in response to the meeting, expressed his delight at hosting Mr. Nathan Belete, the World Bank Country Director for Malawi, Tanzania, Zambia, and Zimbabwe. He expressed gratitude to the World Bank Group for its significant role in the successful debt restructuring agreement reached in Paris, France, last week. The President highlighted that the debt restructuring program marks the beginning of tangible efforts to transform the Zambian economy by increasing investment in critical areas such as human capital, agriculture, infrastructure, energy, private sector development, climate, and gender empowerment.

The President also appealed for additional support to diversify Zambia’s industrial base through robust value addition, particularly for small-scale entrepreneurs. This strategic approach aims to generate more job opportunities, especially for the country’s youthful population. President Hichilema emphasized the government’s commitment to enhancing technological and digital platforms to improve efficiency across various sectors, including revenue collection and public services.

Looking ahead, President Hichilema expressed his eagerness to continue collaborating with the World Bank on their shared vision of triggering inclusive growth and uplifting the people of Zambia. The debt restructuring agreement serves as a stepping stone toward achieving the country’s economic transformation agenda and promoting prosperity for all.

13 COMMENTS

  1. Viva a Tonga President…..

    You can add Kaunda, Chiluba, Mwanawasa, Banda, Sata, Lungu all combined together, they still cannot beat HH. He is ours, us The Tonga people who are the greatest tribe in Zambia………..

    I hate all Bemba and Ngoni People……..

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    • There’s such a thing as the Republic of Zambia. That’s why HH sits in Lusaka. Divide Zambia and HH is no longer President of the Republic of Zambia. But I can understand the primitive thinking of Spaka which HH does not stand for.

    • This is actually actionable in case Spaka doesn’t know it. It’s hate speech and it’s an offence under cyber security laws of Zambia.

  2. More money in their pockets….using Zambia as a collateral and filling up their pockets with money…Zambians will continue living in extreme poverty

  3. Spaka needs help…he must be living a very miserable life….@Tikki just ignore him
    Do we have mental health experts on here so they help Mr Spaka like lilo..
    The guy has gone completely biserk….afunta

  4. FULFILLMENT OF PROPHECY….WE ARE SET UP TO BE IN DEBT….WE ARE SET UP TO KNEEL BEFORE BAZUNGU AND ASK FOR HANDOUTS….THIS EXACTLY WHAT THE WESTERN WORLD WANTS…5 BILLION YEARS FROM NOW AFRICA WILL STILL BE POOR…2023 AND ARE IMPORTING DOORS FROM CHINA….The Chinese are getting our timber for free and we go to China to buy wooden doors…Americans are getting our minerals for free…the British are getting our minerals for and someone is dancing for 188 million….Floyd Mayweather has more than 600 million dollars in his Bank account

  5. We have a beggar and lap dog. Instead of taxing the mines and sorting out agriculture, he is busy singing praises to the slavers.

    • During the so-called Parish Summit, our man was always sitting next to that IMF woman… I forget her name. What’s the relationship?

  6. Why was HH always sitting next to that woman who was the first one to congratulate him on debt restructuring?

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