Zambia lost dignity because of over borrowing - Veep

VICE-President Mutale Nalumango says the interna tional community and lend ers such as the IMF had start ed losing respect for Zambia because of high indebtedness caused by over borrowing by the PF administration.

She also said the increase in fuel is aimed at stabilising the economy because continued borrowing to subsidise the price of fuel had left the coun try highly indebted.

Responding to the Leader of the opposition, Brian Mundubile who asked why people should continue trust ing the new dawn government following an increase in fuel prices, they promised to reduce once elected, Ms Nalumango insisted that the money being saved from subsidies will be redistributed towards needy areas.

She said because of over borrowing, the country is in high debt which it is now fail ing to pay back.

"If you over borrow, even respect from your neighbours go. We were starting to lose respect internationally be cause of the borrowing," she said, adding that the interna tional community, including the IMF didn't want to discuss anything with the country.

Ms Nalumango said the new dawn government doesn't want to blame those who plunged the country in this situation, but is trying hard to find a way out and ensure the country is brought back to its recovery path.

She said the country can not continue on its old path of borrowing for the wrong rea sons which is responsible for the current situation where debt reached unmanageable levels.

Ms Nalumango assured Zambians that in two years’ time, their lives will be differ ent economically because a lot will improve and the country reclaim its respectability.

“Zambians should not listen to Members of the opposition who just want to criticize,” she said, adding that if really the PF had heart and cared for Zambians, they would have while in government, found a solution to the many prob lems the country was going through.