Finance minister Alexander Chikwanda’s unplanned and continued borrowing will land this country in serious bankruptcy, says FDD president Edith Nawakwi.
Speaking in Mufulira, where she was campaigning, Nawakwi said the level of borrowing under the PF government was alarming. Chikwanda recently obtained Cabinet approval to acquire a US$52.5 million loan from the World Bank. The loan was rejected by president Michael Sata in August 2014. The Cabinet also authorised Chikwanda to borrow US$70.1 million loan from the Nordea Bank of Denmark to give to Kafubu Water and Sewerage Company.
But Nawakwi said Zambians must get rid of the PF, which was now borrowing and carelessly fattening the country’s debt due to lack of proper fiscal policies. “Chikwanda was finance minister in the 1970s and cannot bring the same ideas of old days now.
They [PF] are borrowing without caring about the sufferings of the people. People have continued to suffer despite all this unnecessary borrowing. Where are they taking the same money? The level of borrowing is really shocking,” Nawakwi said. “Zambia needs a good economic manager to manage the resources of the country.
I was finance minister before and I never behaved like our current minister. They will explain to us after January 20 where they are taking our money.” She said Chikwanda was expected to be wary of the fact that the economic trends had changed and that his policies of just borrowing like it used to be done in the 1970s were long gone.
Nawakwi said the PF government through the finance minister was expected to be consulting on how to manage and keep the economy effective for Zambians. “What is lacking to keep the economy sound is good leadership. There is no way people can be in leadership without direction.
The confrontational attitude of PF is making the country bankrupt because they do not want to listen.
They are only interested in amassing wealth at the expense of our poor people,” said Nawakwi.
john kwempa
January 3, 2015 at 4:47 pm
Y
Pangalians in Shiwangandu
January 3, 2015 at 8:50 pm
lol... kwali ni Makufi mpela ulubilo!!
January 3, 2015 at 8:56 pm
hahahahahhahaha balimichejnesha! At least finamayo fyamatako ayakulu fyalichitako ka Physical Exercise.
tick tock tick tock
January 3, 2015 at 8:59 pm
mwanya nefi inkondo tamwaishiba ba kolwe amapanga yalingila kale muZambia!!
john kwempa
January 3, 2015 at 4:50 pm
What are you going to do for the Nation ba Sister mwalifilwa ukupwa umwanakashi ngata upwa ninshi ta ba bwino kuti mwatusunga mwalifilwa ukusunga umwaume uu nga mitemwa
Mmmmmmm
Wonders shall never end
Judge Joe Bidden
January 3, 2015 at 5:37 pm
So its only married women who can “use their brains”? Or lead people?
Ken
January 3, 2015 at 5:05 pm
The problem in Zambia is utter jealousy. You will see most often that a former minister of a particular ministry, especially finance, will always attack the incumbent. They know how sweet he is feeling hence the jealous.
Edith has so far not told anyone about her manifesto just like HH. Their campaign is about discrediting the opponent.
On my way from Lusaka west I saw HH’s bill board that listed things like;
More jobs
Farmers
Low mealie price
bla bla bla.
But alas! This advert did not at all mention anything on how he will archieve such good deliverable. The chap has lost it completely.
At PF we are saying;
1. “We shall reduce mealie price by SETTING UP MILLING PLANTS IN DISTRICTS”.
2. We shall decentralize and create markets for agric produce by LINKING ZAMBIA
3. Improve lives of people by L200 project, reopen NITROGEN CHEMICALS, KAPILI GLASS FACTORY SOON ETC.
4. Develop Western province by linking this important part through infrastructure development. Mongu-Kalabo road.
4. Improve education. go and see Mulungushi University
5. Respect the rule of law. Its evident.
6. No abuse of public resources. Its our goal.
T Woods
January 3, 2015 at 7:05 pm
@Ken, you are not being serious! How can a bill board talk about how? Is this your sense of humor?
FuManchu
January 3, 2015 at 7:34 pm
Makes two of us with similar thought!
Ken
January 4, 2015 at 9:45 am
That is where you lose the plot. That billboard is much bigger than the page on which I put the PF way of stating promises. If you chose to put a promise on the board, it better be complete instead of hollow words. Who cant say that?
See below;
1. More jobs by …………(briefly state how)e.g. Create state cow ranches in districts.
2. Low mealie prices ….by milling plants in each district
3. etc
If you cant state on bill boards, at list qualify that during your rallies. But alas! all we hear on your rallies is Edgar, Edgar what, Edgar there and Edgar here.
monde
January 3, 2015 at 5:34 pm
if you think PF is a bad party becoz they borrowed money to build roads, hospitals and increase water supply. HH and Nawakwi pliz stop using these facilities. you are busy using ZRs yet you are condenming PF. Banawakwi what happened to oil that time you were minister?How much did we lose as a country?
KASONDE MWILA
January 4, 2015 at 5:53 am
FORGET ABOUT NAWAKWI THE PROSTITUTE
kaka
January 3, 2015 at 5:34 pm
I’m very disappointd with bamayo and I have no words since she is the mother.
CAN B
January 3, 2015 at 6:07 pm
bushe umushimbe kuntu ateka ichalo? these are the people hwo can sell our beloved ZAMBIA to foreigners.
KASONDE MWILA
January 4, 2015 at 5:54 am
MAUREEN MATAKO MWANAWASA? ATI BA UN. SHE IS VERY DULL THAT WOMAN
Fr. Bwalya
January 3, 2015 at 6:19 pm
better to borrow and supply clean water in ndola. Nawakwi should be concerned on how the money will reach the kafubu water and sewarage to improve on sanitation.
we are still waiting the delivery of maize(is it carlington maize saga?) under nawakwi as minister of finance.
i agree,its just sheer jealousy
Abaakaaabaa!!!
January 3, 2015 at 8:39 pm
Not now ba nawakwi tukulonda ya lungu mukwai!!!!!!
The one
January 3, 2015 at 9:40 pm
Nawakwi stop making noise you failed to improve Nakonde more especially your village called Nega near Mwenzo, u didn’t even build a toilet in Nakonde shameless woman
James
January 3, 2015 at 10:17 pm
Ba maureen .you stopped being watchtower and choose to do politics to me its embarrassing. Iyee mayo. Lekeni mayo otherwise tefintu
mutale Yumba
January 4, 2015 at 5:47 am
On this score support the lady.Leave her to excercise her freedom. Politics may be a million times better than your watch tower sect. Nothing in there bro or is it sis except leading blind followers to the bottomless pit. JWs wake up before it is too late!
Cool temple
January 4, 2015 at 12:34 am
Aba nabo Ba UNZA-RURAL . You were a minister iwe mu MMD. What did you do apart from stealing Mrs Hatembos husband iwe. Husband snatcher. Ifintu ni LUNGU
KASONDE MWILA
January 4, 2015 at 5:57 am
ZAMBIA IS A NO GO AREA FOR UNDERFIVE HH, MAUREEN FIMATAKO MWANAWASA, MUTALE UGLINESSE……..
SWORD OR PANGA
January 4, 2015 at 7:02 am
@ken so the bil bod fo yo lungu has all those things on it.pf & continuity in high fuel prices,chiefs as cival servants.
Ken
January 4, 2015 at 9:47 am
Lungu does not list promises on the bill boards. There are there to see and heard about during rallies.
limpo
January 4, 2015 at 2:11 pm
A site of insults nothing sensible from bloggers stupid site!
club zero
January 4, 2015 at 8:38 am
Nawakwi are you married?you can marry me than doin shit in political games
james
January 4, 2015 at 9:08 am
mutale yumba ulimbwa sana. maureen is heading for disaster no matter how you support her.a lady being chased like that means she ois loosing respect
Kwati like so
January 4, 2015 at 9:15 am
High fuel prices & u think Zambia can develop. Pathetic fs r totally blank. Even wen u ve indicators on market trends around the world, u cant reason ba pf sure. HH alone is better than the entire pf thinking capacity
Ken
January 4, 2015 at 9:57 am
So you think HH will be milking diesel from Cows? Wake up!
If you think HH can subsidize consumption, you are cheating yourself. HH is even more Capital than PF ideology.
Its simple economics. We do not earn much Forex and we have to import the oil and other products from overseas which put a strain on the exchange rate and that drives the price.
The starting point is developing the infranstructure for Zambia, promote investment and incourage manufacturing for the regional market and earn Forex.
For us at PF, we chose this overlooked beginning.
All countries that developed their industries, started with the Agriculture revolution, then industrial revolution. The catalyst for all this is infrastructure development.
Roads
Schools and Unis
Health care and water supply
Dams
etc
SAY SOMETHING. I AM SURE YOU ARE AMAZED AT MY MANIFESTO.
HAMBZ
January 4, 2015 at 2:51 pm
IM NOT AMAZED KEN. PRICES ARE EASY TO REGULATE AND THAT IS WITHIN HH’S CAPABILIITIES. YOU THINK HH IS MORE OF A CAPITALIST PROBABLY BECAUSE HES RICH. BUT ONE OF THE CONCEPTS OF GETING RICH IS REGULATING YOUR EXPENDITURE (NCREASING INCOME AND REDUCING ON EXPENDITURE). I CAN ASSURE YOU THAT HH IS ONE BEST MAN WHO PRACTICALLY HAS THAT KNOW-HOW.NOW, CAN YOU GIVE ME THE REASONS WHY THE COST OF LIVING RAPIDILY ROSE UP JUST AFTER THE PF GOT INTO POWER?
Kwati like so
January 4, 2015 at 10:18 am
@ ken simple economics price of oil @ the world market is falling & u r failing to think.
HAMBZ
January 4, 2015 at 3:16 pm
kwati tell him. on the contrallywhy is fuel geting more expensive in zambia? coz the entire pf gvnt doesnt know that what they do weaken the kwacha including borrowing!!!!!! they think they cant control prices sure! Give the gvnt to HH and see!
Ken
January 4, 2015 at 6:37 pm
You are extremely short sighted. Look at the bigger picture.
john solye ubwali
January 4, 2015 at 2:59 pm
Not my guy scott umusungu uyu came to stay and Pf govt he will remain.Sata was not damn to appoint him as vice.Lets keep him in office,atleast umusungu is not as corrupt as ba kapoto imwe!long live guy scottt
HAMBZ
January 4, 2015 at 3:22 pm
over 200 million dollars debt by pf in less than 3 years???? Now what will follow is not privatisation but foreignaisation. very soon zambia will be controlled by other countries due to debts. modern colonisation if pf is not voted out n replaced with upnd
Ken
January 4, 2015 at 6:40 pm
You do not even have the correct figure HAMBZ. The debt is actually much higher than your petty money mentioned. We need even more of such debt to develop rapidly and pay later. It is much cheaper.
HH will not turn his Cows into dollars overnight ba guy.
Kwati like so
January 4, 2015 at 4:02 pm
@ Hambz thanks for yo comments . Wish ken can think & learn !
Ken
January 4, 2015 at 6:42 pm
I will definitely learn if your say the noble theories other than saying, “HH has the means to bla bla bla….!” You are not even sure what he will do.
christopher nyirongo
January 4, 2015 at 11:55 pm
Aba pushi taba temwana elyo bangoshe tabalala ichulu chimo.why did u leave position of minister that time ,i was young someone saw those mistakes with you why havent you been Finace Minister in all regimns?
John kabengele
January 5, 2015 at 3:56 am
Nawakwi, every time she talks, she talks sense. I like her, very open and straight to the point
FACTs
January 5, 2015 at 9:58 pm
No Lungu kumuvotela. Ba Zambia munasheko ama jealous .
star
January 5, 2015 at 11:03 pm
So HH wants to inherit the monies Mr chikwanda has borrowed.whn he fail to change things in zambia thy will give excuses ATI ba of messed up.