MWENDA DEMANDS TIMELINE ON DEBT RESTRUCTURING CONCLUSION

KASONDE Mwenda, the Economic Freedom Fighters (EFF) president has demanded that Government should set a clear timeline for which it would conclude the country’s debt restructuring programme.

Mr Mwenda said in a statement yesterday that the EFF was deeply concerned over the lack of a specific timeline for debt restructuring negotiations between Zambia and the International Monetary Fund (IMF).

On February 5, 2024, Reuters published an article titled; “Zambia says no timeline on debt restructuring as IMF seeks compromise,” prompting Mr Mwenda to demand a clear timeline of when the government intended to conclude the debt restructuring programme.

But Mr Mwenda has warned that the failure to establish a clear timeline of when the debt restructuring would be concluded was putting Zambia’s economic future hanging in the balance and demonstrated the UPND’s disregard for the well-being of Zambians

“Zambia’s substantial external debt and limited fiscal space pose significant challenges, making it crucial to address the country’s debt obligations through sustainable solutions. However, the absence of a fixed timeframe compromises the economy and prolongs the economic uncertainty faced by our citizens,” Mr Mwenda said.

He said the EFF believed that the UPND’s failures in providing a clear roadmap for debt restructuring had detrimental consequences for Zambians.

“Our people continue to suffer under the weight of poverty and economic hardships, while the UPND prioritises its own political agenda. This negligence is unacceptable and demands immediate action. It is time for all Zambians, irrespective of their backgrounds, to unite and demand accountability from the UPND,” he said.

He said Zambians had the capacity to mobilise their collective strength and utilise the country’s abundant resources to overcome the challenges facing the nation. “Transparency, accountability, and a commitment to the well-being of our people must be at the forefront of the UPND’s actions. The EFF stands in solidarity with the Zambian citizens in their fight for economic liberation and prosperity.

We call on the UPND to provide a clear and concrete timeline for debt restructuring, and for the party to prioritize the needs of the people over their own political interests. It is only through unified action that we can reclaim our economic destiny and ensure a prosperous future for Zambia,” Mr Mwenda said.