Zambia to accumulate $11billion debt by 2014 year end – Mumba

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Nevers Mumba
Nevers Mumba
Opposition Movement for Multiparty Democracy (MMD) President Nevers Mumba has projected that the Patriotic Front (PF) government will by the end of 2014 push Zambia’s total debt stock to around 11 billion US Dollars.

Dr. Mumba says his prediction is based on the PF government’s alleged recklessness, irresponsibility and alleged immorality.

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He has observed that so far the PF government has borrowed 3.5 billion US Dollars as of March 2014 at the expense of Zambians and that the recently obtained 1 billion US Dollars second sovereign bond has pushed up the country’s external debt stock to 4.5 billion US Dollars.

He has maintained that the PF government’s debt policy is allegedly unacceptably reckless and might plunge the country into serious problems.

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The MMD leader was speaking in Solwezi District in North Western Province  on Friday the 11th of April when he addressed scores of his party’s supporters that welcomed him at Solwezi Airport.

Dr. Mumba was in the area to witness the installation of MMD councilors Ezekiel Mulonga and Brian Kajoba as Solwezi Mayor and Deputy Mayor respectively.

And Dr Mumba has observed that that the wealth generated from the North western province is allegedly also being mismanaged.

He notes that the PF government is further creating conditions that are making it difficult for residents of North western province to benefit from the minerals mined in their area.

The opposition leader says it is for this reason why his party is promising that once it gets back to power the former ruling party will ensure that Northwestern province develops socially and economically.

Meanwhile Dr. Mumba has urged the church in the country to actively participate in the economic activities of the country.

He has also called for leadership of integrity in politics in order to position Zambia towards a path of social and economic development.

 

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