The IMF as an institution exists to help developing countries by giving them sound advice and financing to grow the economy and improve the living standards of their people.
The IMF came to Zambia 4 years ago, they predicted this economic crash. The signs were there for all to see that there was bad times ahead.
The key indicators were ;
1: Excessive debt being contracted irresponsibly and on bad terms from China by the PF government of President Edgar Lungu.
2: The loans were used for consumption rather than for income generating activities, this meant that these loans would have to be repaid directly by the Zambian taxpayer. Taxpayer funds used to pay loans means less medicines in hospitals and poorly equipped schools and government institutions.
3: Incompetence, President Lungu appointed incompetent people to key government institutions. He appointed a traffic officer to be minister of Infrastructure, a teacher to be mines minister, a katondo dealer as home affairs minister etc. These people would go on to make a series of bad decisions that have crippled the economy.
4: Corruption, alot of the borrowed money was stolen, it was not used for its intended purpose.
5:Loadshedding has had a terrible impact on production and the national GDP. Production of goods has gone down over 30% leading to job losses and increased costs of production.
The results of these bad policies, incompetence, corruption and excessive borrowing is now manifesting itself in the economy through job losses, sky rocketing cost of goods, rampant inflation, expensive fuel and electricity and a weak kwacha.
The IMF gave President Edgar Lungu a choice 3 years ago, he refused to take the offer because the IMF was demanding an end to corruption and was demanding fiscal responsibility in exchange for a bailout package.
The IMF has made it categorically clear that as long as the PF and President Edgar Lungu are in government, they will not render any aid to Zambia which means the economy will be in free fall until Zambia becomes like Zimbabwe or Venezuela.
So Zambians have a very simple choice to make, the only way we will access the funds from the IMF is by getting rid of President Edgar Lungu and the PF from government. If Lungu comes back to power you will suffer immensely for 5 years, this country will be completely destroyed. So the only choice we have is to get rid of the PF in 2021 so we can access the IMF funds.
The IMF funds will enable us to ;
1: Repay debts to China and other unethical lenders.
2: It will allow us to now pay the IMF loan at low interest rates.
3: The debt repayments will be spread out over a longer period of time so that we can have funds to spend on social service delivery.
4: It will infuse dollars into the economy which will strengthen the kwacha and result in a lower exchange rate, cheap fuel and cheap groceries,cheap air tickets, economic expansion and job creation etc.
So the choice is very clear to make for all Zambians.
Vote for Lungu and continue suffering, or vote for the opposition and enjoy economic recovery.
COPYRIGHT NDC MEDIA 03.09.2020