By Stembridge Sikalundu
When president Lungu embarked on a vigorous exercise of power to appoint and disappoint ministers of finance, the nation was told Dr Bwalya Ngandu was the man to fix the economy and restore economic activities in different sectors of the country, I have never doubted the integrity and ability of the minister, but his appointment has found himself in shallow waters which were already emptied, there is nothing better he can do to save his reputation further than resigning.
I did congratulate him, but septcle on the magnitude of damage president Lungu and his administration has had to do on the nations economy and it’s financial state in relation to management and carelessness.
I took time to listen to Dr Bwalya Ngandu explain the state of the nation in various economic aspects including the debt crisis, in his advanced theories of practice it is inevitable that we defaulted paying interst on the eurobonds, any decision to negotiate seems failing as many other international loans remain unpaid, however the consequences of not paying now will certainly have a further negative impact from the crisis we are in now.
I can certainly feel the PF regime has no capacity to pay back the loans whether they seek to negotiate extension of the period for repayments. How can a govt rely on taxing people through direct and indirect taxations to repay such huge loans which have been directed for consumption and other projects that have no commercial benefits, corrupted with overrated costs benefiting the same leaders getting loans without parliamentary approvals.
My assessment from the brodcasted interview, the minister of finance has no any other plans better off to resolve this crisis, otherwise any effort there is to dafare thse loans is a worse scenario. Who caused this problem?, and how should the people of Zambia help themselves to prevent further exploitation through taxes and other statutory revenue payments?
When a leader says he has no vision we must understand as a people , there is no substance, ECL has practically mortgaged the future of this country, the risk he has placed the nation is beyond his ability to do anything to save this country, this is the reward we have all received from this pathetic regime. God hear us.