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UPND president Hakainde Hichilema has bemoaned the country’s default on its debts saying he would have never tolerated a debt default, adding that he would have in fact fired the Minister of Finance over the matter.

Hichilema says the default is a big deal for the country, as it has ruined Zambia’s reputation and her future ability to engage the international community for investment and other commercial programmes, adding that he would not have allowed it to happen.

The UPND leader is not happy with what transpired adds that his administration would be very open on public debt andits management.

“Our country defaulting is a big deal!

“Our reputation and our future ability to engage the international community for investment and other commercial programmes is severely compromised. Change is necessary!

“I would have never tolerated a debt default.

“The Minister of Finance would have been fired and I would ensure my team is transparent and clear with our debt management programme,” he says.

Meanwhile, Zambia’s default would see the country being blacklisted by international financial institutions, and would find it hard to secure lines of credit in the future.

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2 COMMENTS

  1. IT IS VERY ABNORMAL FOR PF PRESIDENT, MINISTERS AND MEMBERS TO BE MOVING WITH MOUNTAINS OF MONEY BUT THE COUNTRY, ZAMBIA AND ITS CITIZENS HAVE BEEN LEFT VERY POOR. THESE PEOPLE, PF, ARE DEVILS.

  2. There’s no embarrassment to the PF government here. Life’s normal for the PF higher-ups. They get paid on time, their Toyota 4x4s still get serviced no matter what, they can hold party after party. They have so much money that they can start other empowerment programs apart from the legal vehicle called CEEC. The bondholders were right to give Zambia the cold shoulder during talks for interest payments suspension

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