MAGANDE AT IT AGAIN

Dear Editor

NOW Mr. Ngandu Magande is wondering why the Government is considering the refi- nancing of the US$750million Eurobond which still has more than three years before it matures.

According to opposition media Mr. Magande is suspicious that Government will fail to pay back hence the desire to refinance.

What kind of thinking is this? Whether the Government refinances or does not refinance does not change the status of indebtedness. The Government still has to pay back the money.

If the Bank of Zambia can sell treasury bills whose term is more than four years why should it be difficult to understand that the same Government wishes to refinance in order to obtain more favourable repayment terms?

This Mr. Magande is the same man who claimed that the Zambia Airforce Buffalo aircraft that crashed in Gabon was not retrieved from the ocean bed.

This was very cheap but emotive logic because the bodies of the victims were retrieved, and the manufacturers of the aircraft were able to salvage the huge chunks of the aircraft to facilitate an investigation.

What ever explanation of the accident that is being touted today could only have emerged after examining many parts of the aircraft including remains of the engine. Mr. Magande should desist from participating in national politics from his jaundiced political angle because he is very quickly losing the respect of many Zambians who considered him to be an objective technocrat. He is instead proving to be an opposition demagogue he will use any opportunity to deprecate the Government and the people of Zambia. Little wonder who was fires as managing director of Zanaco.