Stakeholders challenge UPND to be transparent about 1.4 billion IMF loan conditions
Written by Mafken FM Newsroom on 6 December 2021
Economist Yusuf Dodia says the recent staff agreement of a 1.4 billion dollars loan with the International Monetary Fund-IMF to Zambia is a drop in the ocean, given the country’s indebtedness and economy that is mainly run by foreign investors.
Mr. Dodia says as long as the country’s major economic affairs in the mining sector do not benefit the country, debt un-sustainability will remain a challenge.
Speaking in an interview, Mr. Dodia expressed worry at the country’s continued borrowing which he says might come with stiff conditions and has the potential to compromise the country’s economy.
He adds that government should put in place mechanisms to locally build the economy and put the country’s economy in the local people as opposed to the culture of continued borrowing.
He has wondered why government is silent on the IMF conditions to the 1.4 billion dollars and why the lenders have decided to reduce the amount from the earlier three billion dollars the new dawn government had requested.
