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.
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. #time4change
— Hakainde Hichilema (@HHichilema) November 18, 2020
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.