DEBUNKING KAMBWILI’S FALSE ECONOMICS NARRATIVES
In politics, politicians need to be truthful and forthcoming in the information and statistics they present to the public.
It’s therefore imperative that Zambia moves away from the kind of politics practiced by Mr Chishimba Kambwili that are anchored on falsehoods, lies and deceit to hoodwink Zambians into voting for them.
It’s these kind of lies that have landed the country in trouble.
In recent weeks Mr Kambwili has been peddling falsehoods about the causes of inflation, economic hardship and suffering in Zambia.
So far he has peddled 3 big lies and we’ll tackle them one by one.
1: During his defection speech to the PF, Mr Kambwili accused an unnamed opposition leader in reference to HH, he said the opposition was working with the lenders of Zambia’s debt to impose suffering on the people of Zambia.
That’s a ridiculous claim, 50% of Zambia’s debt was borrowed from China.
Does HH have any links with the Chinese?
Who was borrowing money from AVIC?
Who went to China to negotiate more debt?
Who borrowed the Eurobond?
Who hired Lazzard to renegotiate debt?
Was it HH or ECL?
It’s obviously ECL and the blame is squarely on him!
2: Mr Kambwili claims that the inflation and high cost of living in the economy is due to privatization of the Mines.
That’s also false, the Mines were privatized in 1999.
MMD left office in 2011 with the dollar at K4.8 and inflation at 7.9%
During President Sata’s 3 years inflation remained consistent, when he died inflation was at 8% and the dollar at K6.3
This was 16 years after privatization.
But in ECL’S 6 years inflation has moved to 25% and the dollar at K23.
This has nothing to do with privatization, it’s all bad leadership and economic mismanagement.
Thirdly Mr Kambwili has claimed that the suffering of Zambians today is a sacrifice the people have to make to get infrastructure developmen,that is also false.
We can give examples of Kenya, Tanzania, Botswana, Ghana, Namibia. These countries enjoyed huge infrastructure development and at the same time the standard of living and their currencies improved. They did not go through a period of suffering or sacrifice.
The causes of the problems in Zambia are well known, it’s corruption, incompetence, excessive debt, borrowing for consumption, mismanagement of the mining sector and a lack of manufacturing.
NDC MEDIA DEPARTMENT