Africa & World NewsLetters to Editor

With public debt now US$20bn, Zambia no longer has an economy

By the end of 2020, close to 12 million out of 17 million citizens will be living in poverty with zero access to healthcare, education or gainful employment.

By Anthony Bwalya

WE currently have a virtual economy that only exists on paper and soon the reality of the numbers will kick in: $7bn wiped off our GDP due to load shedding, with another $2bn expected to be wiped clean thanks to COVID19.

With the economy now expected to recede at a rate faster than -2%, Zambia’s GDP will be worth less than $19bn at the end of 2020.

With our population growing at above 3% per annum, we have more Zambians being born into poverty today than at any other time in the history of your country.

By the end of 2020, close to 12 million out of 17 million citizens will be living in poverty with zero access to healthcare, education or gainful employment.

Now, Zambians have been warned several times, that the ruling PF, knowing that their support base has run away from them due to endless corruption and plunder of national resources; something that has IMPOVERISHED a whole nation, they will now deploy every manner of illegal, unethical, unconstitutional practices undermine our collective democratic voice as an avenue to steal the vote next year.

Every Zambian, who harbours and shares a genuine love for this country and it’s people is hurting at the deliberate, premeditated carnage which the PF regime has caused to our country.

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Zambia is close to $20bn in public debt, with anything close to $10bn of that having been contracted without parliamentary approval as per articles 63, 114 and 207 of the Republican Constitution, and thus illegal.

Of the total public debt contracted, there is credible evidence to suggest that only less than $5bn has actually been applied to developmental projects, with the rest of the debt money having been stolen by agents of the party in power through corruption, kickbacks, commissions and the procurement of expensive private assets by politicians, both here at home and abroad.

In part, this is why the PF regime have resisted an IMF assisted bailout package – they know an IMF bailout will require a thorough Value For Money audit of all loans contracted, as well as ascertaining the legal authority behind all the loans contracted by the PF.

The regime knows they will never be able to justify the legality of much of these loans, or demonstrate a bankable value for money explanation around where this money has gone.

This is a trust and confidence issue in the leadership.

The PF have drawn close to $7bn of secret Chinese loans, much of it committed to HYDROELECTRIC power projects, when they have always argued climate change as the reason of the disastrous 15hrs a day loadshedding we are enduring.

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Why didn’t the PF invest this money into renewable solar projects and install up to 347MW of guaranteed renewable energy in each one of our 10 provinces? This was part of a scheme to auction the Zambian economy – high capital, low returns capital investments.

The PF are actively watching the digital media space and the influence it is having on public sentiment. This is why the shutdown Prime TV.

Seer 1, from his previous dealings with the PF, allegedly involving supernatural interventions, has warned them them that close to the 2021 elections, he will reveal more damaging information around how an incompetent government connived against it’s own people for purposes of consolidating power and, privilege and prestige.

There is a real danger that the PF, in an attempt to silence the digital masses, will shut down the internet, so that access to digital information is thwarted.

There has never been a time, for all patriotic Zambians, to rise up against a monsterous, evil regime that is actively plotting to harm our national interest just for them to remain in power.

  • Bwalya is a member of the opposition UPND.
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