by Mirriam Chabala on 19 Oct 2018by Joseph Mwenda on 19 Oct 2018by Abraham Kalito on 19 Oct 2018by Zondiwe Mbewe on 19 Oct 2018
- Goal Diggers
by Alex Chilumbwe on 19 Oct 2018by Alex Chilumbwe on 19 Oct 2018by Alex Chilumbwe on 19 Oct 2018by Alex Chilumbwe on 19 Oct 2018
by Zondiwe Mbewe on 19 Oct 2018by Abraham Kalito on 19 Oct 2018by Stuart Lisulo on 18 Oct 2018by Abraham Kalito on 18 Oct 2018
by Zondiwe Mbewe on 18 Oct 2018by Zondiwe Mbewe on 18 Oct 2018by Zondiwe Mbewe on 17 Oct 2018by Zondiwe Mbewe on 17 Oct 2018
- Editor's Choice
by Chibamba Kanyama on 8 Oct 2018by WECREATE I ZAMBIA on 13 Sep 2018by Mukubesa Mundia on 27 Jul 2018by Percy Chanda, UPND on 15 Jun 2018
by Diggers Editor on 19 Oct 2018by Diggers Editor on 18 Oct 2018by Diggers Editor on 14 Oct 2018by Diggers Editor on 12 Oct 2018
by Zondiwe Mbewe on 28 Sep 2018by Tenson Mkhala on 28 Sep 2018by Thomas Mulenga on 24 Sep 2018by Sampa Kabwela on 8 Sep 2018
- Guest Diggers
by Diggers Correspondent on 17 Oct 2018by Diggers Correspondent on 17 Oct 2018by CUTS on 9 Oct 2018by CUTS on 2 Oct 2018
PF in love with debt – NeversBy Zondiwe Mbewe on 13 Jan 2018
We’ve reached the climax in our efforts to discourage this government from borrowing, we can only watch them slip away into the dark abyss of economic sabotage says former Republican vice-president Nevers Mumba.
On Wednesday, government signed a US$100 million soft loan agreement with the Saudi Arabian government for the construction of an 800 bed specialist referral hospital which will be called King Salman bin Abdulaziz Specialised Hospital for women and children.
But in an interview with News Diggers! yesterday, Mumba observed that the PF was in a love relationship with debt.
“We have reached the climax in our efforts to discourage this government from their illicit love relationship with over borrowing. We can now only watch them slip away into the dark abyss of economic sabotage,” Mumba, who is also MMD president said.
“They will never listen. Let Zambians judge. That’s really all I can say. This government will not listen to any one. Let God deal with their arrogance. We have written to them. We have spoken. We have met them. All in vain. They are in love with debt and don’t care how it shall be paid back.”
But in a separate interview, ADD president Charles Milupi felt government had done well to go for a government to government loan agreement which was specific to a project.
“The time that the PF came in 2011, we were contracting these euro bond loans. We were advising that it was wrong for a country like Zambia to go for euro bond loans because these were commercial loans with high interest rate. In case of defraud, because these are commercial loans, the lenders would never forgive this country like we have debt forgiveness in the past. We had suggested that the way for the country was to go for multi-lateral loan with multilateral institutions, that is the World Bank and the IMF or the ADB or bilateral loans. That is country to country with concessionary interest rate,” he said.
“Secondly these loans must be specific to certain projects. If you look at the loans that was signed with Saudi Arabia it seems to qualify on all those conditions, its concessionary interest. It is also specific to a project, that is the hospital for women and children and with low interest which is country to country. So on that call it qualifies with what we have been pushing forward.”
He however wondered why government decided to name the hospital after the Saudi Arabian king Salman bin Abdulaziz.
“The only problem is, how can you get a loan which you have to pay back and then you come and name the project that you are constructing that loan for, you name it after the people that have given you that particular loan? I believe that the hospital will be called King Salman bin Abdulaziz after the King of Saudi Arabia. Why are we using the name of the King of Saudi Arabia? We have to pay back the money coming from there even if it’s concessionary interest rate so they need to clarify that,” said Milupi.
About Zondiwe Mbewe
Zondiwe is a vibrant young Zambian journalist who has interest in writing political and current affairs on issues which affect every Zambians. She draws inspiration from journalists who stand for what is right and are not afraid to tell and show the truth to the people.
Email: zondiwe [at] diggers [dot] news
- Kambwili asks Lungu, Sikazwe to forgive him - 19 Oct 2018
- Maggy closes budget debate, defends increased debt service allocation - 19 Oct 2018
- Police give Tayali ‘painful protection’ after beating by UPND cadres at court - 18 Oct 2018
- DPP enters nolle in court officials’ trafficking case as DEC rearrests them - 18 Oct 2018
- PF full of corrupt liars – HH - 17 Oct 2018
- Police give Tayali 'painful protection' after beating by UPND cadres at court
- Auditor General's report details how Social Cash Transfer money was squandered
- Attendance roll call at Day of Prayer annoys civil servants
- Zambians react to scandals when its too late to reverse
- Arrested UNZA lecturer out on bond after three days in detention for "insulting Lungu"
- News Diggers! ePaper Edition 289 Friday October 19, 2018
- Zambia has no leadership that can stop theft of govt funds – Mulongoti
- Auditor General’s report details how Social Cash Transfer money was squandered
- Africa will have 1.3 billion more people by 2050, due to high fertility – UNFPA Report
- Bodybuilding not for thugs – Mr Zambia
Subscribe for email alerts
Weekly Most Digged
ArchivesNov0 PostsDec0 Posts
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
The News Diggers
Deputy News Editor
Plot No. Lus/9812/649-MC8
off Alex Chola Road
P.O. Box 32147
Telephone or WhatsApp:
+26-097-7708285, 095-3424603, 096-5815078
diggers [at] diggers [dot] news
editor [at] diggers [dot] news
Send this to a friend