Zambia headed into international debt trap again – warns HH

Opposition United Party for National Development (UPND) president Hakainde Hichilema has warned that if the Patriotic Front does monitor the proper utilization of the Seven Hundred and Fifty million United States dollars Eurobond, Zambia may end up falling in another debt trap.

Mr. Hichilema notes that Zambia can not afford to fall in another debt trap as it went through a lot of hardships before the debts accrued under the Movement for Multi-Party Democracy (MMD) government was cleared under the jubilee debt campaign.
Speaking in an interview with Qfm, Mr. Hichilema observed that the recent revelation at the Zambia Railways Limited-ZRL-is a bad sign of how the PF is  allowing the Eurobond to be utilized in the country.
The UPND leader has urged members of public to hold the PF accountable in how it is utilizing the Eurobond.

Just last Friday, Zambia borowed another US$50 million from the World Bank to support the implementation of an integrated framework for the development of water resources.

 

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