Zambia’s debt is sustainable – Chipimo


National Restoration Party (NAREP) President, Elias Chipimo Junior, says the dept that Zambia has is sustainable if government keeps consistence in policy implementation and invest in key sectors.

Mr. Chipimo says it is worrying to see how the money borrowed is spent by the Patriotic Front (PF) administration without proper plan.

Mr. Chipimo says it is evidenced with the way the PF government mismanaged the seven hundred and fifty million US Dollars Euro Bond which was not used as earlier planned.

He states that external debt has been rising in absolute terms from nine hundred and thirty four million US Dollars in 2006 to three thousand one hundred and seventy nine million US Dollars in 2012.

This shows that within a period of six years, the debt has increased by two thousand two hundred and forty five million US dollars in absolute terms representing a 240 percent increase.

The NAREP leader says as long as the selected projects are carefully implemented, they have the potential to spur growth in all sectors of the economy.