Hichilema warns against debt reassuring better days ahead
PRESIDENT Hakainde Hichilema has advised the country to never again go into unsustainable debt.
Speaking at Naminwe ranch in Namwala district yesterday, President Hichilema stated that what the Government achieved was tremendous as it was called a mission impossible because it was a difficult process.
The Head of State reiterated that without debt restructuring the country was going to pay a lot of money which would result into a terrible economy.
Minister of Finance and National planning even said that without the debt restructuring, about 70 percent of the national budget will have been affected.
President Hichilema said the debt restructuring has lessened Government’s pressure to pay back and such, will let the country gain credibility and push resources into investment expenditure.
He revealed that the development will trickle down to the masses soon.
“The pressure that is reduced and the credibility we will gain, we can push the resources into investment expenditure.”
“To support more children in school and free Education, meal allowances, skill training, CDF and boarding secondary schools for those who can’t afford,” he disclosed.
The President acknowledged late president Mwanawasa’s hardwork in ensuring debt clean up by writing off the debt stating that the country was not supposed to be in a debt crisis.
He implored the public to take part in protecting the country from misuse of public resources urging every citizen to become a police officer against corruption.
The Head of State warned against corruption and abuse of authority in the post debt restructuring era.
President Hichilema ordered law enforcement agencies to act swiftly against those engaging in corrupt practices and abuse of authority.
He said that the unsustainable debt crisis was brought by exohobitant expenditure, mismagement of public resources and corruption.
“We must not find ourselves in such a crisis where debt levels become unsustainable that they become a burden to the treasury,” he cautioned.
“The country has an opportunity to build a new image and bring in investor confidence and pay greater attention to the management of resources across all ministries.”.
By Catherine Pule
Kalemba
