JCTR seeks breakdown of use of US$750 million Eurobond

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Jesuit Centre for Theological Reflection

The Jesuit Centre for Theological Reflection (JCTR) has challenged government to clearly explain how the US$750 million Eurobond money has been utilized.

JCTR Director Fr Leonard Chiti has told Qfm in an interview that while Zambians have been told that some of the money had gone towards road infrastructure development among other projects, there is need to give a breakdown of how the money has been used for the person on the streets to be able to understand.

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Fr. Chiti says Zambians have not seen anything tangible on which the $750 million Eurobond money has been used despite hearing of institutions that benefited from allocation of the money.

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He says it is unfortunate that government went to Parliament to seek approval of the increase in the debt ceiling even when the Eurobond money has not yet yielded any results.

Fr Chiti adds that this leaves many Zambians wondering whether government is borrowing money to finance national development or borrowing for their own good.

qfm

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