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Rainbow: Prepare For Worst Times Ahead Of PF
Rainbow Party in a statement writes;
PREPARE FOR WORSE TIMES AHEAD as the PF government finally concedes that we have a budget deficit of 13 billion Kwacha. A deficit means that we don’t have enough money to fund the budget. In other words we have been spending more than we can afford, living beyond our means. Although PF won’t admit that there has been fiscal indiscipline, they’ve acknowledged that part of the reason for the deficit has to do with the huge external nkongole which they have to service and changes in the mining tax regime, and bu kamwendo munjila (frequent travels).
WHAT DOES THIS MEAN? The country is broke! Funding to critical sectors of the economy may have to suffer. PF has refused to reduce the size of the cabinet under these desperate times but would rather stop the ambitious road construction (have you noticed kuti Great East Road banakangiwa kusilizisa?). Health, education and other services may suffer in the long run.
SOLUTIONS? That’s why they’ve introduced poorly and hurriedly put together desperate measures such as tax on the exorbitant rent you pay for your house. But that money won’t be enough. Problem niyakuti ba PF can’t go back to borrow money at favourable interest rates because ma credit rating nayeve yafunta because bankongole are also saying they can’t trust us to pay back because we already owe too much unless we agree kuti they lend us kaloba with high interest rate!
All this shows poor planning and great indiscipline and lack of seriousness and policy direction.
THIS IS THE SITUATION AND THEN PF CADRE AKUTI KWEEEEEEEE!!!!
2016 ayende! #UnitedWeCan
Posted by Editor
on June 17, 2015. Filed under LATEST NEWS.
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Vampiro @ ONYX POWER
June 17, 2015 at 2:00 pm
We are prepared so what.
zakeyo
June 17, 2015 at 5:23 pm
Doom preachers,what can they tell us!
Its just sour grapes ba cartel.
All the way ECL and GRZ! Sela babombe!
God Bless the Republic of Zambia!
Mwe bantu
June 18, 2015 at 1:27 pm
Ha ha ha you guys are funny. Have you been to school, are you in Zambia. Comedians!!!
Vampiro @ ONYX POWER
June 17, 2015 at 2:05 pm
But these same people want to take over leadership of the country which is bankrupt how are you going to manage. If you can manage even pf will manage.
mj banda
June 17, 2015 at 2:11 pm
Kabimba you failed, so just keep quiet please
Judge Joe Bidden
June 17, 2015 at 2:23 pm
Guys Kabimba aside, the fact still remains Zambia is broke and aba kaloba have suspended funding/loans. This article corresponds with that one that talks Zambia’s economy to shrink by 5.8%. Better we face the facts, we arent doing well and insulting people who are reminding PF its shortfalls is no answer either.
Judge Joe Bidden
June 17, 2015 at 3:51 pm
ZAMBIA is preparing to raise as much as $2 billion in Eurobonds and may start marketing the debt next month, said Oliver Saasa, a consultant who said he was briefed about the plan by a senior Finance Ministry official.
The southern African nation may start meeting investors over the planned sale in the first week of July, said Saasa, the chief executive officer of Lusaka-based Premier Consult Ltd. and a director at Stanbic Bank Zambia Ltd.
Finance Minister Alexander Chikwanda said on Tuesday that the country will borrow externally to fund an “unfinanced” budget gap of 10.5 billion kwacha ($1.4 billion) after a decline in copper prices hit revenue. Chikwanda said he’s requesting that lawmakers approve an increase in the overseas debt ceiling to 60 billion kwacha from 35 billion kwacha.
Source: Bloomberg
Judge Joe Bidden
June 17, 2015 at 5:42 pm
MORE WARNINGS, NOW ITS THE WORLD BANK:
The World Bank has expressed concern over the widening budget deficit and has cautioned Zambia’s economy may be destabilized.
Out-going World Bank Country Director, Kundhavi Kadiresan says the budget deficit poses a risk to macroeconomic stability and growth of the economy.
And Kadiresan says there was need for the country to institute strong fiscal policies to sustain economic growth. Speaking during the launch of the 5th Zambia Economic Brief on ‘Making Mining Work for Zambia’, the out going World Bank Chief said the Zambian government spends more on salaries as a share of the Gross Domestic Product-GDP compared to 30 percent of other countries in the world and there was need to cut down on spending.
PATO
June 17, 2015 at 2:23 pm
Winter jst shut up,you were one of the top official in PF and GRZ,what are telling us?so what?tiambe kuvina kwasakwasa….
vampiro@ONYX POWER
June 17, 2015 at 2:40 pm
These oppositions puzzles me sometimes. They are all alarmist saying Zambia has accrued a huge debt and the same time they want to be presidents. Is there a debt free Zambia they will bring upon taking over from pf. These are the lies we can’t buy in this error. Its for them to distance themselves from the corridors of power if they want as to believe them
vampiro@ONYX POWER
June 17, 2015 at 2:46 pm
This is not different from what the elders used to tell us that girls have teeth which bite and eat the penis, away of discouraging us from getting the sweet so that they alone can be enjoying it.
illuminatti
June 17, 2015 at 3:34 pm
era! and not error.
English and vocabularly
vampiro@ONYX POWER
June 17, 2015 at 4:05 pm
ipad auto vocabulary. I can’t also blame your vocabularly spelling because I know its a typo, life goes on
Isaac
June 17, 2015 at 2:47 pm
WHERE WILL HE KABIMBA GET THE MONEY FROM TO RUN THE COUNTRY? HE HAS NO CLUE AS WELL, IF BORROWING IS NOT NECESSARY IN ANYWAY? HE IS RATING HIMSELF HIGH AS A MESSIAH WHEN IN FACT HE IS NOTHING BUT AN OPPORTUNIST.
Judge Joe Bidden
June 17, 2015 at 3:01 pm
Just to answer you briefly change of government NORMALLY attracts new investors and re-ignites investor confidence, that torpedos your worry. What else is worrying you?
Isaac
June 18, 2015 at 7:43 am
Nothing to worry my friends. Regardless of negative preaching, from certain quarters of politicians, the issue remains that they will not be able to wrestle power from mighty PF not until 2036. For Kabimba it is far fetched dream in his case. No candidate has won presidential elections without having any single councilor. Coz it is the grass root where councilors are that any president is voted for. You can paint the color white to be gray but the status quo remains, that PF and its leader is above all of you who are creating loquaciousness.
burning spear
June 18, 2015 at 3:14 pm
Isaac u are a very small brain cadre. These are very serious macro economic problems the country is going through and there are indicators everywhere Which must attract think tanks to debate on what the solution should be for our country. It is not about who succeeds PF or when rather it is about our economy. Stop viewing things in a cardreistic way, stop being a chicken dreamer but be like an eagle.
major chileshe
June 17, 2015 at 2:58 pm
But I think president edgar lungu is doin well so far,anyway lets wait and see
major chileshe
June 17, 2015 at 2:58 pm
But I think president edgar lungu is doing well so far,anyway lets wait and see
Denkete
June 17, 2015 at 3:00 pm
Winter Kabimba is an epitome of a misused sperm by his father. Uyu chikala a year has not elapsed since he left PF. He was the most powerful person in the same govt he is condemning today. You can fool some people sometime, but you cannot fool all the people all the time. Kabimba, where did you get the money that you are lavishly spending on your conferences? Winter Kabimba has never never won any election in this country, not even that of a ward Councillor. What makes him think we Zambians are so daft that we can’t see beyond our noses?
Judge Joe Bidden
June 17, 2015 at 3:06 pm
Hmn? sounds personal.
Denkete
June 17, 2015 at 3:07 pm
I shall still vote for Edgar Lungu and PF next year. Coz if we vote for another party, it will treat us to a blame game.A lot of countries are experiencing economic problems including Greece. We know as much as you know, so ba kabimba just concentrate on renovating Sylvia Masebo with your stolen money.
illuminatti
June 17, 2015 at 3:37 pm
Greece has always been in financial quagmires.
the comparison does not hold water.
Judge Joe Bidden
June 17, 2015 at 3:56 pm
Actually Greece’s economic woes have been there for last 5 years only that it has reached a boiling point and they now want out of the EU (Without economic consequences or obligations from the lenders)
The spartacus
June 17, 2015 at 3:32 pm
Late president sata mhsrip used to offer solutions to his agurments wen he was in opposition to late president levy mhsrip as opposed to these so called noise presidents of utuntemba.
King Pin
June 17, 2015 at 3:35 pm
Tinainvelapo iyi campaign ya Sata. Condemn the ruling Party at all costs, given any opportunity, make them look bad while as opposition you look as a saviour. But it wont work again Mr. Kabimba. You can fool some People some time, but you cant fool all the People all the time.
Chaona
June 17, 2015 at 4:00 pm
Can there anything good come out of Kabimba? His is politics of hatred and vengeance, while Edgar is a man of the people, SELA TUOMBEKO.
vampiro@ONYX POWER
June 17, 2015 at 4:15 pm
Did you INTEND to write SELA TUBOMBEKO OR SELA TUTOMBEKO?
Trixy
June 17, 2015 at 4:27 pm
@Vimpiro, Isaac, Denkete, etc….you shock me with your comments. Sometimes try to be objective in the way you analyse issues. Call a spade a spade instead of a spade a big spoon (like the Post used to say at one time). The fact of the matter is that the PF Government have over borrowed. So if they have over borrowed and opposition tell citizens to brace themselves for more suffering, why should anyone be offended by this statement? The truth hurts hah? And how can you say that whichever Government will take over will find the credit so they should just leave the PF to rule. What nonsence is this. Even a 7 year old can laugh at such a statement. @JJB rightfully pointed out that new investors are attracted to a new Government. What PF should do is just try and improve on things instead of defending itself. Look at the positive response that came from the introduction of Dangote cement for example. That we gave them a pat on the shoulders but that doesn’t mean we will support even things which are wrong.
Vampiro @ ONYX POWER
June 17, 2015 at 4:58 pm
I would have worried if the debt was incurred for consumption and campaign financing. Since its been invested within the country its ok.
Judge Joe Bidden
June 17, 2015 at 5:04 pm
@Trixy well elaborated my man. Problem most PF guys discuss people’s characteristics than the substance of what they say. Kabimba has never been my cup of tea but what he said makes a lot of economic sense more so that we are experiencing that economic fall right now.
kolopa2016
June 17, 2015 at 4:35 pm
Kabimba, u failed even 2 give us a
Constitution
Siuz
June 17, 2015 at 4:46 pm
@JJB you seem 2 b knowledgeble.You were at UNZA?What did u study?Is it Economics.
Judge Joe Bidden
June 17, 2015 at 5:11 pm
d-zone
June 17, 2015 at 4:47 pm
winter may be correct with his information but whats the way out’coz he’s also a zambian?
Vampiro @ ONYX POWER
June 17, 2015 at 4:53 pm
Oppositions behave like foreigners who want to take over a country by sending shivers to citizens and thinking that people will revolt and get attracted to them.
Judge Joe Bidden
June 17, 2015 at 5:20 pm
Is it not the same opposition that brought UNIP down and the multi-party democracy you are enjoying today? Short memory we have?
New Educated Zambia©
June 17, 2015 at 5:22 pm
So when nez was saying that we are doomed with this unnecessary spending I was called all sorts. Now I have been vindicated. Who ever thought this day would come. The pf government thought they were clever. Trying to please people with tricks. Kikiki vote upnd
MK the ORIGINAL
June 17, 2015 at 5:49 pm
its good that ba Winter has eyes open now o see that Pf has a huge Cabinet. The question is when he was SG, was not the Cabinet as big as it is today? Let me give positive and sound warning to Politicians that we are sitting on a time boom. Anything will happen which will be so destructive. What do i mean? Massive demostrations, protests coupled with looting of peoples property. Am ever on ever on the ground qnd have seen and notice the hunger in peoples eyes. Lets wait and see.
Siuz
June 17, 2015 at 6:18 pm
It’s now called SELA TUTOMBEKO SILIYA
kakolwe
June 17, 2015 at 6:54 pm
Well fought battles. The same world bank at a symposium in Lusaka stated that no country can be set to improve its economic outlook with wasted infrastructure. They compared post-independence Zambia’s infrastural development to today. Type only snag is that Zambia today is beset with the copper prices fluctuations. ALL parties agree that diversification is the key. Therefore, we wait to see who sings loudest!
Beautiful Moma
June 17, 2015 at 7:25 pm
What we need to do is to sell this Country then pack our bags and go home.
cnp
June 17, 2015 at 8:03 pm
Lol, yes let go kunumba yanyoko
Beautiful Moma
June 17, 2015 at 8:47 pm
Yes my dear. But it seems you also didn’t get the pun in my comment. We have no where to run to. @kakolwe, boss help @cnp above.
Judge Joe Bidden
June 18, 2015 at 9:38 am
Keep eating from the crumbs nitwit, you are kind of chaps who have no clue whats going on in your country let alone in the world beyond where your pee end. Makaka
Bateny
June 17, 2015 at 7:33 pm
Bola Ni Kabimba. Edgar is not Serious…
dubwi
June 17, 2015 at 8:40 pm
The loving government is borrowing to clean the labish things kabimba left .he use move like the baboon in the office when he was a sg of pf now he want to show he is freindly we want to hear big parties like upnd under nez. Borrowing suits the developing nations like zambia. Tell him vampiro if a man can borrow a suit during wedding what about to make roads, hospitals, school, dams etc
New Educated Zambia©
June 17, 2015 at 9:02 pm
Kiki i told you so. When I spoke people said I am negative. Cam pf idiots comment please
Judge Joe Bidden
June 18, 2015 at 9:53 am
Kwena walipwa kwati ni fisherman’s T-shirt! kikiki
kakolwe
June 18, 2015 at 10:27 am
Hahahaha! JJB, the little councillor is now fishing for responses from bloggers. Good points you have raised & all he can say is ‘vote upnd’? When it is Kabimba speaking. Yes PF have overborrowed. But! For To raise the standard of living for the grassroot national! It is ONLY a upnd banana-skin who can ask to say “Shall we eat crowds” while he strides along chachacha ‘half-lane’ street. Task at hand is how to contain the weight of the debt.
kakolwe
June 18, 2015 at 10:31 am
Meant “shall we eat roads?” Ninshi Ali mu quarter-lane chachacha one way sanitary road (Santi-road they called them)
New Educated Zambia©
June 18, 2015 at 10:43 am
Jjb just like a typical pf cadre. You seem so obsessed with me. If i were you I would concentrate on ensuring the pf remains in power. Do you think it’s by chance that I blog less here? The stage is set. Upnd is doing very well such that I have refocused my energy on other internal party issues. You come out as desperate because even with all your long winded comments you still are so insecure that you see the need to mention nez. Kiki . Power means saying a few words but them having an impact.
Judge Joe Bidden
June 18, 2015 at 11:31 am
Ati power is saying few words, man you have just run out of steam and your narrow monotonous reasoning capacity has run out of ideas. Thats life buddy. I know you have learnt a lesson, its a marathon in here my man not 100km Hussein Bolts stunts – kunakapofye! Good at least once in a while you check in.
LUNGISAN
June 17, 2015 at 10:01 pm
point of correction,great east road is still being worked on even today pple were working.But still redardless of the political party you belong to Kabimba is saying the truth.
Kawalala party
June 17, 2015 at 10:14 pm
Elo lwanya noba mwa lungu kikikikiki
Felix
June 17, 2015 at 10:19 pm
Jeus save us from the sins of the freh
Kawalala party
June 17, 2015 at 10:21 pm
Bwezani kongole and apa thy will be no leniency…ilikobad guyz
Famous idiot!...
June 17, 2015 at 10:37 pm
Whether Wynter olo banani uko the fact is ifi ifibantu fyali kongola kale tapali ifika cinja so apa bane tapali ifya tusungu ku imwena weka…
Felix
June 17, 2015 at 10:40 pm
It’animal farm.
observer
June 17, 2015 at 10:47 pm
When the government increased mine loyalties, the bands of opposition leaders rose against the government that it was not good for the country,but again the government decided to reduce the mine loyalties the same people raised against the government. so i have just come to conclude that this opposition people are just good for nothing. i do not take them seriously.
jay
June 18, 2015 at 4:53 am
Zambia will only change if technocrats will coment on issues of economic growth, am sure lungu is shocked with his administration & he should b aware tht many people who ar supporting him ar jst cadres (pipo lyk chama who he cant afford to discipline)… lets suffer 4 a while 2016 wil com by Gods grace… 4nw lets jst labour to pump sense in puplic fools cadres
mp
June 18, 2015 at 5:41 am
It is good tO borrow money to use at home than wasting some where.Roads,Hospitals and schools it’s good.Nshimwenemo mulandu muli ba president.
pillar
June 18, 2015 at 7:48 am
SO FAR SO GOOD,SINCE THE MONEY HAS BEEN INVESTED WITH THE COUNTRY THIS IS GOOD,I WAS GOING TO BE WORRIED IF IT WAS A CAMPAIGNING MONEY.
AS FOR WYNTER KABIMBA,THIS MAN HAS NEVER BEEN A WARD COUNCILLOR,HE IS A REJECT EVEN WHERE HE COMES FROM (MUMBWA)
Trixy
June 18, 2015 at 3:58 pm
Hellow? Winter was the Secretary General of PF and at one time acting President of this country….man how can you equate that to a Ward cancellor? You know you PF cadres can be so dull sometimes, that is why it is difficult to take you seriously sometimes. Winter is not my piece of cake, but what he has said is the truth, nothing else but the truth.
muleba
June 18, 2015 at 8:23 am
wich rainbow go to hell
PANTUFYE
June 18, 2015 at 9:27 am
After borrowing came wage/employment freeze.we are told to consider the also the expenditure on civil servants’ salaries.but when opposition campaigns,they still promise hefty salaries and massive employment,additionally,they condenmed govt’s move to hike mine taxes where our country is rooted financially.Opposition also seem to be desparate and confused,I have no confidence in the opposition coz it will be try and error also.let these who have errored make amends than to go into another trial era.Changwa nafuti
Israeli
June 18, 2015 at 9:30 am
@jjb u got wisdom.u inspire me
Judge Joe Bidden
June 18, 2015 at 9:55 am
**Bow** I also like your style, you shoot from the hips.
kakolwe
June 18, 2015 at 10:36 am
AKAMUCILA mumulu!!
Canine uli kakucenjela mune. Sadly the nincompoomp you fight with does not know what he’s got on his side. Big ups!! You are appreciated!
Judge Joe Bidden
June 18, 2015 at 11:39 am
Sancho tatafyala, nomba iwe ako aka muchila kaima shani?? pantu even my wife @sweet moma is on leave ***cough*** not maternity leave, I miss her.
kakolwe
June 18, 2015 at 10:03 pm
Yes! This disappearing act by Beautiful Moma ain’t healthy. Nimwe Tata nacilaeba ati bamitashakofye, nakamucila kaima? You are a worthy opponent.
Puungwa
June 18, 2015 at 11:17 am
Vote for pf again and again so that everybody starts eating mabisi for breakfast,lunch and supper,mulacibona caasalazya kwale kumulomo!
Senior citizen
June 18, 2015 at 1:00 pm
Kabimba, just shut up you talk just too mucH!!U a just too academic.
phab29
June 18, 2015 at 2:28 pm
The problem with PF borrowing is that it is for consumption purposes.Borrowing to build roads is not sustainable the govt can raise money through other ways be able to construct roads…How do you get kaloba to buy a tonne of beef instead of buying cattle so that you can also get other by-products like milk,hides etc so that you can also generate revenue and pay back Nkongole.Zambians lets understand that development is gradual.If you in your early twenties and support this wreckless borrowing then we should question your intellect because this borrowing wont affect this current crop of leaders we have today but the future generations.. the problem is people seem to be so obsessed with tribalism than real issues.what a shame.
Trixy
June 18, 2015 at 4:06 pm
@Phab29…Oh my God!! This is one of the best comments so far (together with the one from JJB. Bravo!
Judge Joe Bidden
June 18, 2015 at 5:38 pm
Good point. Yes PF is borrowing hand to mouth but what disturbs me is that PF cadres look at this critical issue in tribal and party lines than a national crisis. Even if Govt changed today the debts will be carried over even to our children’s time!
kakolwe
June 18, 2015 at 9:57 pm
@Phab29, sad that I took the whole afternoon in meeting contractual obligations. You put it all wrongly. A road is not a consumable! Neither is a hospital nor a tube well (commonly called bore-hole). Indeed, they ain’t a direct returns investments but neither are they unnecessary. As in the example you gave, you can’t borrow your beef either if it’s going to rot at the airport, feed corpses or even fail to land, that’d be sad. Listen bane, We’re all singing ‘diversification’. This diversification MUST involve the entire nation. Hence, the opening up of the nation. Everything is OK but just a wee bit over ambitious!!
GUNNERS
June 18, 2015 at 5:31 pm
Its not easy to win elections remember sata waz in opposition for ten years and u r they only for 3months expecting to win kabimba teti do something else
Judge Joe Bidden
June 18, 2015 at 5:45 pm
Is the topic Kabimba or Zambias economy? It pains me to see wasted minds in Zambia that look no further than petty issues