Finance minister Alexander Chikwanda’s unplanned and continued borrowing will land this country in serious bankruptcy, says FDD president Edith Nawakwi.
Speaking in Mufulira, where she was campaigning, Nawakwi said the level of borrowing under the PF government was alarming. Chikwanda recently obtained Cabinet approval to acquire a US$52.5 million loan from the World Bank. The loan was rejected by president Michael Sata in August 2014. The Cabinet also authorised Chikwanda to borrow US$70.1 million loan from the Nordea Bank of Denmark to give to Kafubu Water and Sewerage Company.
But Nawakwi said Zambians must get rid of the PF, which was now borrowing and carelessly fattening the country’s debt due to lack of proper fiscal policies. “Chikwanda was finance minister in the 1970s and cannot bring the same ideas of old days now.
They [PF] are borrowing without caring about the sufferings of the people. People have continued to suffer despite all this unnecessary borrowing. Where are they taking the same money? The level of borrowing is really shocking,” Nawakwi said. “Zambia needs a good economic manager to manage the resources of the country.
I was finance minister before and I never behaved like our current minister. They will explain to us after January 20 where they are taking our money.” She said Chikwanda was expected to be wary of the fact that the economic trends had changed and that his policies of just borrowing like it used to be done in the 1970s were long gone.
Nawakwi said the PF government through the finance minister was expected to be consulting on how to manage and keep the economy effective for Zambians. “What is lacking to keep the economy sound is good leadership. There is no way people can be in leadership without direction.
The confrontational attitude of PF is making the country bankrupt because they do not want to listen.
They are only interested in amassing wealth at the expense of our poor people,” said Nawakwi.
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Zambians Must Get Rid Of PF -Nawakwi
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