*FDI CONGRATULATES GOV’T OVER DEBT DEAL, CALLS FOR LIVING WITHIN MEANS*
Lusaka, Friday (April 12, 2024)
MEDIA STATEMENT
Family Development Initiatives (FDI), a faith based organization, has congratulated Government for a clinching the debt deal.
FDI Team Leader Sheikh Yusuf Ayami said debt consolidation is important if Zambia is to make progress.
“As the President has always said time and again, the debt issue is like a python that has been strangling us as a Country, disabling us from moving forward on delivering economic prosperity which is key for families to live prosperous lives. We want to reecho what has been said particularly by the Minister of Finance that the fact that we have been able to clinch the debt deal does not mean that now we are in the zone where it is free for all,” he said.
Sheikh Ayami said the debt deal has simply helped the Country to implement it’s plans without the pressure that comes with debt.
“We still have to pay of which that is what we need to have on our minds because we have just been given the headroom. Work begins now. How do we reorganize ourselves in a manner that enables us to have the financial resources to enable us to repay back the debt at a later stage? It is not time to merry and party but a moment to engage in serious hardwork in order for us to generate the resources that we need for our own prosperity but also for our own ability to manage the debt,” he said.
The Clergyman said Zambians must take pride in paying back borrowed money even at individual level in order to maintain integrity.
“I also want to address two issues which I hope can be lessons that we can draw from the debt restructuring deal. The first one is the culture of borrowing and repayment. There is this propensity amongst us as Zambian to feel that if I borrow from somebody, I should not pay back and in fact we take pride thinking that we are smart when we do not pay back using whatever reasons that we can use. It is not. When you borrow, you need to pay back because it shows responsibility and that is how civilised people work. It hinges on trust and my integrity. That is one lesson that we need to draw from this,” he said.
The FDI Team Leader disapproved calls by sections of society advocating for debt cancelation instead of paying back.
“I have heard sentiments that the Government should have negotiated not to pay back the money but that is not good. What the Government has done is to delay the payment of the money is what is supposed to be called for so that at an opportune time we are able to pay back because paying back is what will protect our dignity,” he said.
Sheikh Ayami called on families to learn from Zambia’s debt restructuring deal to live within their means at family level by avoiding unnecessary expenditure.
“The second issue that we need to deal with particularly in the context of families that let us live within our means. There is this phoenominal propensity to come up with Committees for a funeral, kitchen party, chilangamulilo and Committees for everything. You do not have money but you want to do these activities. No body forces you to do these activities because you can actually forego them. By foregoing those Committees, it does not mean that it is the end of the world. However, for you to insist that you need to do a wedding or chilangamulilo and yet the monies that you want to spend for that event is based on contributions from people that are themselves facing hardships is not the way civilised people are supposed to live. I do hope, therefore, that another lesson from the debt deal is that we should live within our means,” he said.
The FDI Team Leader said families should not be seen to be begging from people to help them in financing things that they can do without.
