Eurobond beneficiaries should pay back

Eurobond beneficiaries should pay back


We have a man-made handicap right at the top of governance echelons.

We know the Euro Bond has to be paid, so why isn’t government giving us updates on how much has been paid back by the recipient institutions? Whose job is it to chase up payments?

Don’t we have Minister of Finance with awesome experience and competence from the Bank of Zambia?

The Euro Bond should not, and should never be the Treasury’s headache because recipients are there to pay back. Just sit on their backbone and compel them to pay.

There should not be doubts or guesswork on who is supposed to pay back the Euro bonds loan.

The beneficiaries of those loans must be compelled to pay back, that’s how it ought to be.

May be the Ministry of Health may be excused to get the treasury pay for its debt.

But it’s unthinkable to pay for inept master loadshedders ZESCO and the black horse, Zambia Railways. We must put them to task – where is the investment pumped into them?

1). Imagine, Zambia Railways is currently broke, so where is the $120m it got?

2). ZESCO is currently much worse in the filth than it was before fresh cash injection from the Euro bond cheque, so what did the $255m investment do?

3) The DBZ also got $20m to support SMEs, they must pay back with no excuse.

I recall that the Ministry of Health was handed out $29m for the modernization of the University Teaching Hospital, Livingstone General Hospital, Kitwe Central Hospital and Ndola Central Hospital.

4) Even the Road Development Agency (RDA) got $310m.

These Institutions are supposed to pay back the Euro cash bonds.

We demand accountability and they must explain to the nation as they give us a status report of how they invested the money and what profits came out of that investment.

For the top top boss of the country, he too owes the nation a thorough explanation.

Emmanuel Chilekwa
19 April 20

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