Government has refuted media reports suggesting that the money for payment of new salaries for civil has been got from the Eurobond money allocated to the Zambia Electricity Supply Corporation (ZESCO) and Zambia Railways Limited (ZRL).
Secretary to the Treasury Fredson Yamba has told Qfm that all the money allocated to the two parastatals is still in their possession.
Mr. Yamba has however, explained that the money that some media reports may have mistook for the Eurobond money which has been withdrawn by the government from some banks is actually idol money which government routinely withdraws to allocate to areas where need arises.
Mr.Yamba has also maintained that there should be no anxiety among civil servants regarding their increased salaries that are being effected this month end as government will sustain their remunerations.
I knew it ! No wonder i always say that we lack serious opposition leaders in Zambia.All we have are a bunch of alarmists and pessimists.Glad that the government has clarified this issue.Narep what`s your say ? Smh
They are all jokers boyi.
The truth is hard to hide. It will come out soon,Just give it a week . PF is broke thats why they have invited IMF to come and help boost their borrowing chances on the international market.
The truth as I know it is that the PF has borrowed from ZESCO and ZRL and will pay this money back after borrowing from the markets.
Ha ha ha.Ironic how some people wants to see PF messing up things.Keep on waiting…it will be 2021 with PF in the driving seat before you know it.Lol
Since when has the PF ever told the truth? These PF chaps are congenital liars. Boza is in their DNA! Honestly, who would trust anything that comes out of the mouths of these charlatans?
And everyone started insulting PF over the Euro bond.Kwena ku Zambia kwaliba ifi-puba.
@Saulosi, no one who loves their country would want it to fail. The reason why some individuals are speaking out is the fact that the PF came into power on carpet of lies. As if that wasn’t enough, we are told that the country will be governed by the ten commandments. All christians were impressed. All lies! That is unforgiveable as any party would have lied. Now things are unravelling.
Wonderful ! Am sure all the haters like that fake engineer from Australia will be ashamed.So are the other ones like the prince,Matipa and the other Muppets I might have forgotten to mention.They won’t have any reason to insult Sata tonight.
what`s IDOL MONEY in economics terms??…yaba buti!!! kaya
@ndobo it is lusaka times that got it wrong.It is actually “Idle money” which in simple terms is money that does not earn any interest, hence may gradually lose value due to inflation.
@soulosi
ohh.. i see,, but still,, what is idle money in economics terms??… was it stated in the current national budget as idle money??
@Ndobo the money is not normally stated in the national budjet. It is some kind of money that one can use on a “rainy day”.It is basically money that is not deposited in an interest bearing or investment tracking vehicle(not participating in the economic markets).
I wonder if this blogger Saulosi is an objective and serious person,regarding broader perseption of National Matters.He believes blindly in PamaFi(PF) Poor Finishers,who’ve just been changing/renaming MMD Projects,from Formular One Road Projects(For both urban and Trunk Roads) to Link Zambia 8000 and L4000/Pave Zambia-2000 respectively.Sata is CNP Ba Saulosi please.Don’t be a “Useful *****”.Zambia deserves better Leadership.This is 21st Century.
@soulosi
ohh now i see, you must be very educated and wise.. and Zambia must be a very rich if not the richest nation in the world to afford huge amounts of idle money. if its not question for being riches then Zambia must be a very blessed country for money to be just coming in like rain
Ha ha ha.Yes man i may be a natural sciences student but i still know most of these terms because i read widely.Every good economy has Idle money.I`m sure even Zimbabwe has.Lol
wow!! thats a very nice one,, Zimbabwe has idle money?! zimbabwean economy must be doing great also,… i hope there is still more of those huge amounts of idle money laying somewhere for the electric train, all those outstanding projects.
I can’t believe that your brain is full of water. Anyway because of the water containing skull of yours, you will believe them. This all lies. this is Eurobond money.
@Pumpe suit yourself man.Believe what you want to believe.You have your own course to chart in life.Bless you man@ndobo ha ha ha.I don`t think it is enough for those trains.Anyway am off man.I have an early morning tomorrow.Sleep tait bro.
We know that Zambia has copper and Zimbabwe has gold. And we know that just these two minerals alone (without a lot others which both countries have) are able to make them the richest nations on earth.
Now who’s brain is full of water or who’s brain has been washed? Don’t belittle yourself just because you were born into a world with circumstances deliberately created by certain forces to make you believe that you and your people are poor.
Bushe tamutonotonkanya?
@Sauliso, Ichisungu. Belengeni kabili tata. Mule chita proofread not ukala sabailafye ati bamitashe abanenu.
@Sundu for your own information i don`t live in an English speaking country.So there is no need for me to proofread it.The proofreader is in the local language.Anyway am out for the night now.Mulale bwino tata.
@Nine chale
Great analysis you have there!!.. i see you chose to live in a poor country called Germany, wisely avoiding at all costs to live and work in your own rich zambia..Good thinking and judgement, i guess!!
@soulousi
Good night my brother, am going to bed too!! i hope you will come back with those idle money analysis tomorrow
@Saulosi, Zambia cannot afford Idle Money because we are not making enough surplus. Our funds are depleted. Rich countries use surplus as Idle Money that does not participate in any economic markets and is interest-free. Zambia in the state it is does not have “wasted” funds, as Idle Money is sometimes referred to. It has therefore become common for the Ministry of Finance to interecept project money and deviate it to salaries. In the past, this has cost them donor funds, especially from the World Bank. It is possible in this case to draw from viable state establsihments like ZR and ZESCO
@Ndobo, ba DOBO nabo ifyamba no munabo Saulosi…at thanks lol.
@Saulosi. He has not gone to bed. That’s the impression he wants to give. He is by his laptop waiting for breaking news. He wants to be the first to comment in typical PF style. He is on 98% of the articles and feels depressed if they are not coming out fast enough. 98% is a serious addiction. What time does he attend to his family and whatever he does? This is a serious question comrade. His fellow addicts keep pushing him–“ignore them” they say. They are like alcoholics drinking katata from the same bucket and pushing their friend off the cliff.
Nostradamus we know that you get intimidated by Saulosi.You always accuse him of commenting on threads when he is almost nowhere to be seen.Check on all the threads if you will see him in 10 % of them.Give the guy a break.He brings balance and objectivity to this page.While you all want to insult Sata Saulosi does the opposite now that’s a balance.
@Intellectuals. Blogging addicts; Saulosi, Nostradamus, Ndobo, blogging has its negative consequences. It is like alcohol, the desire to blog is stronger than the pressure to stop. Saulosi wakes up in the middle of the night and very early in the morning to make comments—he is addicted. He’s become careless in his family life because of blogging. He has become impatient with himself and friends because he has to blog as a result he has few friends outside the internet. He accesses the internet every minute to read responses to his comments. The entire thing is tearing his life apart. Blame it on PF.
Lets just enjoy the money guys…we have a serious GRZ..we promised u more money..and when implemented u still want to complain…we have enough resources as a country…when u talk of borrowing its a trend in the world even super powers such as USA and UK still find somewhere to borrow…MMD blinded u by cheating that we re a poor country…NO NO…viva sata!!viva PF
Poor opposition.Whats your next lie now ?
“Mr. Yamba has however, explained that the money that some media reports may have mistook for the Eurobond money which has been withdrawn by the government from some banks is actually idol money which government routinely withdraws to allocate to areas where need arises.“
Idol money?!!! you must be very chainama to believe in that chainama statement….
Seriously, to all of you, professional Zambians out there ,,, whats is IDOL MONEY??.. everything in bussines, accounting, economics must accounted for with a purpose,,, so i do not see how the statement IDOL MONEY comes in,, IN A COUNTRY WHICH IN SUCH HARRY FOR DEVELOPMENT,,NOTHING MUST BE IDOL!!!!!!!!!!
Its “Idle money”
oh..i see, thanks again
Cheers !!!
Ba Saulosi in the National Budget,you don’t negotiate for Public Salaries using “Idle money”.It’s only the “useful *****s” who can be cheated with this un professional Bufi,and calling it recalled money.PF has mismanaged the Budget-Period.Prudent National Budget Management,you can not increase Salaries by 200 percent with very limited resource envelope in a shrinking economy.You increase in relation to other sector national demands .
@Saulosi’s Obsever i think you have got the 200 percent salary increment wrong.It is just about 4 %.I`m just from talking with a former workmate who is working in government he has just told me that the increment is not that much.In his case the salary has just increased by about a 1000 kwacha.
@Soulosi
Wow! you seem to have some inside data.!! 4% of what amount (total national civil servant) wagebill is a small amount to you? which can be funded with idle money??..
after reading this they will not believe it. HH and his party are a let down
1. The PF government is 70% Bemba Brebner Changala has revealed to the nation!
2. PF is nothing but a tribal militia…….Nason Msoni!
so surprising that you mention HH in accordance with the above govt stupid response. It was NAREP and UPND that blew the whistle. To your own knowledge there is no such a thing as idol money in the world but in Zombieland. that is true admission of their mischief. Naleka apapene…
so surprising that you mention HH in accordance with the above govt stupid response. It was NAREP and not UPND that blew the whistle. To your own knowledge there is no such a thing as idol money in the world but in Zombieland. that is true admission of their mischief. Naleka apapene…
The enemy of the State has been silenced they though PF will fail to honour the promise more money in our pockets come. 2016 ni pabwato cheers Mr President
Idle money? kapena kwanu ku muchinga! Never heard of such hogwash. PF aka the Tribal militia…all you’ve done is to bankrupt the country. Ba kawalala!
Where on earth can you have idle money laying in the bank and for what reason? Only in Zambia,Cry My Beloved Country.
there is no such a thing as idol money in an economy like Zambia. So get cheated dull fellows
@kabimba you are spot on. No sane person can keep money idle in the bank when his children need better food and clothes.
It can be idle if it has been planned for.Dont you save something yourself for a rainy day ?
Why should’nt there be idle money in the Zambian economy? Idle money is simply uninvested money, i.e money that has not been allocated yet. It could be from taxes, exports or direct revenues from the economic output in the mines, industries etc.
if its idle/idol money then it must have been unplanned.. it dropped from some unknown source… if it was planned then there is NO way it can be idle/idol
Nine chale, please mukalamba wandi twapapata stop supporting blindly. can u keep money for months in that account of yours? lets help the government by objective….
Good evening
@ Ndime, it is not blind support. There is clarity on the matter and people should move on instead of railing against the explanation. If it is not the truth, sooner or later, it will come to light, like every other dubious scheme has been exposed.
What I detest is the tendency of jumping to conclusions and the negative, ill-wishing culture that some of my countrymen specialise in. It seems some people were just born to oppose everything that comes their way. I agree that we all can never see things the same way but at least we can learn to understand where things are clear and move together as a nation. Don’t we all want our nation to prosper? Success has many fathers, failure is a orphan.
I knew pf was smart.Abash opposition of jokers !!!
Imwe ba PamaFi cadres,in Financial Ecomics,there is no such thing as Idle Money.At any given time,the Bank of Zambia knows how much money/currency is in circulation(money released in the Ecomomy).Can the PF for once admit that bakangiwa to run the economy prudently.
@ kabimba,
really? so you fa ther used to spend all the money on women and beer without keeping some in case you fall sick.
Why does it have to get personal @Says? Cant you put across a point without involving third parties?
@4, y do u ve a sentence as a name. A u part of the immigrants from ZWD?
This issue(eurobond) requires serious reflection if its true ll be used for salaries, we in trouble.
Those who ve influence over mmembe pliz advise him, we are tired of reading his personal battles with other pipo. He seems so drown in the pf 2016 issue as if that was post newpaper business strategy. Whats really is his stake in this pf 2016 wrangle? now that its settled the biggest looser is mmembe himself who initiated it. Perhaps time fred gave up he has done his part,time for him to go. Once mmembe hates someone who tempers with his interests talwakapwe iyo until GBM dies.
Ba Wanzelu. Where is your evidence? The truth according to you? Please grow up! Zambia is on the rise whilst people like you are still pessimistic with your thumbs up your backside!
@chekov it’s shame that people like you can believe cheap PF lies. He is saying they used Idle money in the banks. Why keep the money idle in the bank until ARVs and vaccine stocks run out. If it ‘s true why didn’t they effect the salary increment earlier. Why are some projects still waiting for money for contractors to start work.
I don’t buy this kind of lies. PF should learn to concoct intelligent lies. The explanation I gave earlier is plausible and can easily be accepted by people
The opposition leaders were trumpeting, government will fail to pay. Government pays, now there is another tune. Shame, spineless Zambian opposition politicians.
The opposition are jokers?
Bwahahahahahahaha….. how many weeks did it take for this government to “set the record straight”?
Not to mention, after paying how many months of interest on the Eurobond why isn’t the money being used by ZESCO, ZRL, or others for real development? Oh, I see….. maybe PF doesn’t have a plan after all?
That must be why they are talking about raising even more debt before finding a way to use what we’ve borrowed already. Tell me now…….. whose the joker?
MONEY MADE MAN MAD PRAISING SATA DAY AND NIGHT AFTER A KA INCREAMENT OF K300 FORGETING THAT THE MAN REMOVED SUBSIDIES HIS CADRES ARE GRABING LAND EVERY WHERE U ARE BEASY CLAPING ZANGENA IS THAT NOT MADNESS
The problem is that any sane person can not trust a statement from a donchi kubeba monkey.
The public dont know when PF is doing a “donchi kubeba” and when not. The policy has come back to bite them.
this man doesn;’t inspire at all..he has become petty too..like his ukwastan family..
PF cedars , which ever way, the government has used EURO bond.you expected the government to KEEP quite on this issue when the president told them to defeend the PF with BLOOD why is it that Zambian are living in denial.. The next thing is that this government will start printing MONEY like news papers so that the Caders continue clapping, In 2020, Zambia will have a hyper inflection. Kaya
some of u dont deserve to be zambians. u had wanted them to fail bt u ar dissaptd viva gvt. shame on u useless criticisers. go and hung urselves, tribalists.
Idle money may be contigent or reserves held by the state usualy as guarantee.Guarantee since ths can be comodity form of kind eg precious stones,or any trased form of value equivalent to stock market trade exchange.Hence evn govt may borow from ths fr its own financing payat.ble later.The financing agent usualy may be a bank.The bank then pays or may lend govt thru guarantee agreemen
@Dada go back to night school, please! You are not only incoherent but also have a grammar of your own.
‘has been got from the Eurobond’ ‘may have mistook’ ‘idol’
Is it Yamba who cannot speak proper English or what? Should read gotten, mistaken and idle. Ata worshipping idols and being drunk with American idol these writers.
Tongas are the most stupid people in Zambia that’s why that UPND president for animals will never rule this country.UPND is a rural party all the MPs ba kumushi
Tonga times chalimikapa lekeni sata ateke naimwe mutekeko ingombe Pama mako PF is doing fine
as if they ever acepted the shortage of arvs and bcg.
zambians are easily hoondwiked..the same yamba a while ago told us that there was a deficit….so where did the iddle money come from..snd so he is confirming that salaries came from some “iddle” money in the banks..
I studied economics and i have never heard of a country which has a budget deficit having idle money….
Its like you have no food at home for a week and your son has some idle money in his pocket which could feed you for a month.
What a pack of B.U.LL S.HIT only a PF cadre can believe…
So the is enough idle money in Zambia to effect huge payment of salaries… this must be the richest country in Africa which can not afford ARV’s but has idle money. What a joke
@Saulosi
Mama mama at “budjet” kwati ni ndeke.
Why did the government remove subsidies for the poor when the country actually has a lot of idle money…?
The engineer, removal of maize and fuel Subsidies is a good move economically and socially. The majority of Zambians are poor, needy and do not own a car or produce large tons of maize. In rural areas and pre urban many people own bicycles or just walk. Therefore, the people who benefit from fuel subsidies are very few and well to do. Why should people in rural areas continue not to benefit from their money? Maize subsidies, people who export maize / fertiliser continue to benefit from maize subsidies whilst the govt pay more for the benefits of neighbouring countries.
I am an Engineer, It is very difficult to understand the economics being explained here. Firstly if our Govt. new very well that there was “Ïdle money” sitting somewhere and then they try to strangle the poorest of the poor electorate by removing the subsidies on fuel and Staple food while the IDLE money sits waiting for salaries. Something somewhere does not seem to add up. Anyway it is the duty of Govt. to keep on explaining to the people what they are doing so that we do not remain with rumours. People will always question just like they questioned Jesus Christ. So ba PF your job is to tell people the truth. If you lie you will have to tell more lies in 2016 to cover today’s lies. We commend you for responding though you still have to tell us why money has been lying IDLE.
The civil servants need increment indeed, but the contention is that the salaries must be sustained. The civil servants must continue to receive these Salaries with future adjustments until they retire. The question now is are we always going to have ÏDLE money sitting somewhere as we are being told the source. This is why it would be nice for PF to say we have the money for such increment coming from such sources and it is sustainable. Civil servants will not settle for any Salary reduction in future. It is a painful exercise as we have seen similar strikes in Europe related to salary reductions.
Cchief bootlicker where are you. This is the forum I itch to hear from you. Come out big fellow lets help our government. our relatives are suffering for failure to heed to Chanda Chiimba III. this is when you ask pipo to justify things they do not understand. I miss Kennedy. Too bad no mic at the graves . Mwansa Kapeya boosa tunfwe niwe nomba waisapo….
Pf Use me an excuse..idol money whatever it is
thanks mr president for my 1000 increment oooooo chi narep .ooooooohomo habilis)hh) . thanks mr president sata long live bwana.pf ni favour
PF are Idol worshippers! And now they have come up with Idol money!
The government was not long ago considered bankrupt. Call a spade a spade. Soon the truth will come out as efforts are better being made to fulfill the promises.
Idle money my foot!and yet they say ”in abundance of water a fool is thirst”.We had all that money lying idle while patients were dying due to shortage of ARVs.
Whether it is idol money or idle money I do not know, what I know is that, I was getting K2000 less but now PF has given me K2000 more.
Peace and Prosperity to Mother Zambia.
This is pure nonsense. There is no such thing as ‘idle money’. Grz can’nt even afford to pay local suppliers and we have ‘idle money’ in the bank? PF please try to tell an inteligent lie – not this one.
There isn’t such a thing as ‘idle money’. Local Suppliers are not paid by GRZ due to none funding to ministries and we had/have idle money? PF please tell a better lie.
saulosi you are very dull,pf is printing more money and you will soon go to the zeros you removed.
Imwe ba Kambwanga, ngechongo mulepanga apa chanshi? Tamulefwayolupiya?
more money in your pockets…Agree or disagree!?:,.
more money in your pockets…Agree or disagree!?:,.
‘Respond to attacks against government,’ that is what the President said last week. We have been told before that government had money in reserves when it had gone into ministers pockets and Chakopa’s bank account.
The explanation well received but not very convincin.reactions from Govt means they know its wrong to use euro bond to pay recurring expenditures likes salaries.Govt plan better and you will out play ur critics.avoid delay in clarification.
Only someone lacking critical thinking skills would chalk the ruling government a success.
The biggest setback in the Zambian psyche is a childlike gullibility that I think may possibly have have something to do with religion.
I’m shaking my damn head at those that think a speech has vindicated the government from all the shortfalls that Zambia has recently experienced (and will continue to experience) .
Still shaking my damn head.