International Trade Consultant Trevor Simumba has charged that President Edgar Lungu has no idea about the true extent of the country’s debt crisis.
Mr Simumba charged that people working with President Lungu are lying to him over the debt situation.
He lamented that those like him who have spoken out about the country’s debt position have been labelled as not being genuine.
“The stock of external debt as at end of first quarter = US $9.37 billion. Total guaranteed debt = US$2.7 billion. The stock of domestic debt as at end June 2018 was K51.86 billion = $5.2 billion.
Domestic arrears in the first quarter 2018 increased to K13.91billion = $1.39 billion. Add it all up equals to: $18.59 billion is owed by the Government of the Republic of Zambia in a country with a current GDP of $25.5 billion,” he stated.
“If this is not a debt trap then I think it’s best to remain quiet and let the big brains figure this out. What a tragedy for Zambia. May God help us,” he said.
He added, “We just have to ensure in 2021 we take back our country. Just today a public servant was calling me not genuine because I highlight the truth. The truth is our country is in a deep economic crisis and sadly the President has no clue. They are lying to him and telling him its not bad it’s just people against progress. It is so tragic.”