Flashback: PF is killing future of our children

Flashback: PF is killing future of our children


By Antonio Mwanza

The PF Government is killing the future of our children with the enormous debt-trap that they have put our country into and their mismanagement of the country’s economy. What is more worrying about this whole situation is not just the ballooning debt levels we are witnessing but the imprudent use of the debt money, the high fiscal indiscipline and the sheer incompetence of the government to effectively manage the economy, eradicate poverty, create decent jobs and open business opportunities for our people, especially the women and youths.

This Government cannot account for the huge debt that they have accrued since coming into office in 2011. It is clear that the bulk of the debt money has been squandered through corruption, over-pricing of projects, embezzlement, misapplication of funds and sheer incompetence on the part of the state to effectively and efficiently apply national resources to the productive sectors of our economy in order to spur growth and reduce the high poverty levels, destitution and squalor among our people.

The full rumifications of the debt-trap the PF has plunged this country into are yet to be felt since most of these debts have not yet matured. The impact of these debts will be devastating as government shall be forced to cut down on social and economic expenditure to finance the debt most of which was contracted at very high interest rates.

And if the long-term fiscal challenges remain unaddressed, our economic environment will weaken further as confidence will continue to suffer, access to capital will continue to shrink, the interest costs will continue crowding out key investments in our future, leading to conditions for growth to deteriorate, hence putting our nation at greater risk of economic crisis. If our long-term fiscal imbalance is not addressed, our future economy will be diminished, with fewer economic opportunities for individuals and families, and less fiscal flexibility to respond to future crises.

The following summarizes several of the negative ramifications of our growing debt:
Reduced Public Investment. As the national debt increases, the government will spend more of its budget on interest costs, increasingly crowding out public investments. And the more that resources are diverted to interest payments, the less that will be available for the government to invest in areas such as education, agriculture, energy, processing and manufacturing that are important to economic growth. This will eventually lead to more joblessness, more energy deficits, more youths forced out of the education system owing to high tuition fees, more sick children due to malnutrition, high mortality rates and generally high poverty levels across the country.

Reduced government expenditure in key economic areas is stifling innovation and slowing the advancement of new breakthroughs that could improve our lives.

Investors are beginning to doubt the government’s ability to repay debt and could demand even higher interest rates, further raising the cost of borrowing for businesses and households. Over time, lower confidence and reduced investment would slow the growth of productivity and wages of our workers.

Growing long-term debt also has a direct, real world effect on the economic opportunities available to every Zambian.

In short, the PF has morgaged our country to shylocks due to incompetence, theft of public resources, corruption and general mismanagement of our country’s economy. Mutatinomics is not working and Zambians must brace themselves for harder economic times.

As the economy continue to slide and people’s lives become harder, the PF will resort to more oppressive tactics to silence the opposition, dissenting voices, the church as well as independent media in order to stifle debate and send terror in the spines citizens, gagging them from voicing their discontent at regime that has caused so much suffering.

Issued by Antonio Mwanza, FDD Deputy National Secretary and Party Spokesperson

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COMMENTS

WORDPRESS: 7
  • comment-avatar
    4people 2 weeks ago

    We need a bold new vision for government and the country. Change in government takes bold leadership. Corruption has destroyed the economy. Corruption in Zambia has reached cancerous proportions.
    Borrowing is not the answer to our economic woes. You do not have to have a degree to understand that. It’s common sense.
    All those people in government, who have degrees, should be ashamed of themselves for they have failed to run the economy. A bunch of criminals and thieves is what we have. They all sit comfortable in their homes with food on their table while the poor continue to suffer.

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    onbehalfofthepoorpeople 2 weeks ago

    We need a bold new vision for government and the country. Change in government takes bold leadership. Corruption has destroyed the economy. Corruption in Zambia has reached cancerous proportions.
    Borrowing is not the answer to our economic woes. You do not have to have a degree to understand that. It’s common sense.
    All those people in government, who have degrees, should be ashamed of themselves for they have failed to run the economy. A bunch of criminals and thieves is what we have. They all sit comfortable in their homes with food on their table while the poor continue to suffer.
    Political Corruption has a dramatic ripple effect on destroying the economy resulting in a failing economy and a weak state of governance. Corruption has a negative effect on both inequality and the provision of basic services and needs that affects the poor people and the country on the whole.
    Letting foreign companies in to tear up our land to extract and sell our minerals while making our people become poorer with each passing day is unforgivable.
    Laws should be tougher on foreigners buying our agricultural land.
    Laws should be tougher on any country or company who want to invest.
    Our land and mines must not be sold permanently, because the land belongs to our people and our children’s children. Selling our state-owned copper mines in Zambia was a big mistake.
    Selling our wild animals from its national parks is embarrassing. Our important economic activities such as tourism help to bring revenue into the country. It promotes cultural awareness and also helps to preserve local culture and traditions in the area. Our tourism industry business deserves the recognition, respect. Tourism plays a crucial role in the development and growth of our country and all those found to be poaching/trafficking our protected wildlife species must be caught with a matter of urgency. This is unacceptable and something must be done about this. Corruption is an issue which adversely affects Zambia’s economy
    We should be rich, but our government has destroyed the economy. The country is getting poorer now, because of economic mismanagement and corruption.
    Shame on most of your comments as it’s always about tribe and never about what is good for the people and the economy.
    Leadership is about having a compelling vision and a comprehensive plan with talented people working together to put the vision into action.
    As for HH, you criticise him day and night and yet he seems to be a reasonable man with a genuine passion. Anyone who demonstrates a genuine passion to help those in in need has my vote.
    Hopefully when I return back soon I will arrange to meet HH and help him to campaign for presidency and if not HH then one day I will set up my own political party and it will certainly not have any recycled politician.
    Recycled politicians are a stumbling block to radical change.

  • comment-avatar
    Kazhila 2 weeks ago

    Is the writer of this article the boy shown eating in the picture? He indeed articulated the matter very phrophetically.
    Question is, has the situation improved now?

  • comment-avatar

    No…he has joined the thieves and now he is one of them. He does not see anything wrong now.

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    yes he was right by then in FDD thus why he joined us so we put his ideas into practice. Nothing wrong in this article

    • comment-avatar
      Nyambe the Hero 2 weeks ago

      Are you on drugs?

      Which ideas? PF masholi are not interested in advice as they are busy with plunder. Antonio Mwanza is an opportunist. He joined to eat like was doing in FDD with Nawakwi’s money. Before all this he was being paid by RB and cohorts to destabilise Mumbi Phiri in Munali Lusaka. We hear Antonio is now a ghost worker at ZESCO.

    • comment-avatar

      Where has the love for our nation gone?toomany katulye have popt up tabakwata noluse abantu aba one thing thy should remember is that what goes around comes back.