Economy

Fundanga Warns Against Anti-China Sentiments

Former Bank of Zambia Governor Dr Caleb Fundanga says Zambia like any other country should be careful with how it deals with China as it had become an important global player.

And Fundanga says negative sentiments about the country could affect debt pricing.

Speaking during a public forum in Lusaka, Fundanga said China was now a major shareholder in major financial institutions like the World Bank and the International Monetary Fund (IMF).

“Let me also warn now that China is an important global player and China now is one of the major shareholders in the international financial institutions in the world including the IMF and the World Bank. So how we deal with China is important,” he said.

Dr Fundanga wondered why China was being cast in bad light when historically it had stood by third world countries and offered low interest loans.

He also said that Zambia’s debt situation could be hurt by negative sentiments by the citizenry and also politicians.

Dr Fundanga said Zambian citizens had a duty to help improve the perception of their country to the outside world.

He said the borrowed money had been put to good use through the various construction projects that the country had witnessed.

35 Comments

  1. PILATO

    That’s how it started

  2. PILATO

    Borrowed money has been put into good use are you sure mulekwatako insoni

    • Timothy

      You’re fake pilato , You’re just a ponk you think hh will do wat

  3. martin minina

    Good advice and learn from one onother

  4. Sibweni

    Roads and infarstructure are bin worked are upon the money we got frm china is use nicely. Open yo Eyes and if in yo area u had no road and clinic that is developmt. The pipo u think wil save zambians they found them already saved by pf bcoz all roads are bin done. If u get a debt from china,chinese wil win a contract do what they has funded sam 2 america.kikikikiki….

  5. Tito

    Am so disappointed with this man I thought he was understanding how the country becomes at risk of colonization due to high debts obtained now he stands in the gap of supporting wrong things just in the name of having a share shame on you you will be happy if we are colonized for second time and with the crop of youths we are having today I don’t think if we will return our much needed freedom boss think for you country not for money honestly you don’t have the heart for this country

  6. Tito

    MY FELLOW YOUTHS JOIN ME
    LET’S USE THE # TAG ” TWILABA LILYA MU COLONIAL”

  7. Themzy George

    You are saying that the money has been put in good use yet Zambia is in great debt the prices of goods are rising day by day. Please stop saying that and do something over the issue

  8. Sj

    Please let us not be weak minded because not all went through leakage of exam papers to help us with reasoning.
    America at one point was as strong as China. DEFINITELY we should have equally been indebted to them too through loans. Did they invade our space/country in the name of INFRASTURE DEVELOPMENT? Were they disrespectful to CITIZENRY? Did they infiltrate our Security wing? Or become gun carrying in the country and murder citizenry? Later one be on record for giving locals poor conditions of service in some case fail to give the workers safety wear and the list can go on.
    ZAMBIANS forget so easily, late President M.C. Sata(M.H.S.R.I.E.P) warned us about Chaina man. He said about that Chinese, THEY are BILLIONS in their population, the best thing that could be done is for Zambia to learn TECHNOLOGY from them and not to INFILTRATE our enviroment as currently is the case. Ku ilapulilila umulilo mu chitenge. It will bring problems if their numbers increase in our LAND. This came from President who travelled widely.
    THIS WE’VE STARTED SEEING. AND FACT IS BEING STATED HERE WITH NO HATE SPEECH.
    BUT man/woman hates TRUTH BECAUSE of being used to SLY and UNDERHAND methods. Comment

  9. Sj

    Please let us not be weak minded because not all went through leakage of exam papers to help us with reasoning.
    America at one point was as strong as China. DEFINITELY we should have equally been indebted to them too through loans. Did they invade our space/country in the name of INFRASTURE DEVELOPMENT? Were they disrespectful to CITIZENRY? Did they infiltrate our Security wing? Or become gun carrying in the country and murder citizenry? Later on be on record for giving locals poor conditions of service in some case fail to give the workers safety wear and the list can go on.
    ZAMBIANS forget so easily, late President M.C. Sata(M.H.S.R.I.E.P) warned us about Chaina man. He said about that Chinese, THEY are BILLIONS in their population, the best thing that could be done is for Zambia to learn TECHNOLOGY from them and not to INFILTRATE our enviroment as currently is the case. Ku ilapulilila umulilo mu chitenge. It will bring problems if their numbers increase in our LAND. This came from President who travelled widely.
    THIS WE’VE STARTED SEEING. AND FACT IS BEING STATED HERE WITH NO HATE SPEECH.
    BUT man/woman hates TRUTH BECAUSE of being used to SLY and UNDERHAND methods. Comment

  10. Sibweni

    Colonization of zambia by china is a day dream and example of country is controled by chinese in africa. History and civic education wil make understd a word are usin wrongly. The reason u fail 2 undrstand chinese bcoz u told 2 do so,are chinese animals or human beings? it up2 u answer. I hav never heard china colonize america bcoz it got usa 1.1trillion dollars. Bro,research 2 find truth b4 u support fake accusation chinese takeover zambia. Where? Cloths and phone are made in china bcoz u can’t afford 2 buy america products.

  11. Love more

    I think the issue is not how much strong China has become Financially; but its approach against the people it is milking.
    The attitude of its Citizens towards others especially in renumeration, respect and conditions of service.
    We like them because they came to our aid at a time of need when Voter and In Smith clipped us.

    • Love more

      I think the issue is not how much strong China has become Financially; but its approach against the people it is milking.
      The attitude of its Citizens towards others especially in renumeration, respect and conditions of service.
      We like them because they came to our aid at a time of need when Vorster and Ian Smith clipped us.

  12. Ba Senior The Citizens

    I guess true leaders can sacrifice for the nation.
    If I were the leader of this nation, I would have all the respective ministers and I myself to donate part of our salaries so that we fix some of the debt.
    This is simply because by the time a leader goes into office, they would have already been wealthy and invested in other things.
    As far as I am concerned I think there is no poor man or woman who has gone into office.
    My fellow countrymates I would also recommend that we come up with fundraising campaigns so we can raise money and fix some debts.
    I can asure you with this situation we are not living right.
    I’m a youth and I’m afraid we can be colonised!

  13. Sibweni

    Fighting chinese has conduit 2 win power is wrong but use mp’s in parliament 2 come up with laws 2 protect local business 2 grow small medium business 2 bar all foreigns deal in retail. Iet chinese take manufacture industries where we are poor. This can b done not through honest and love 4 the country not politics. Use # tag 4 better zambia such as # youth let us register in number remove this party and bring that party. Use # tag no riots 2 destroy public property but protest 2 air our views. Kikikikiki….. Hired 2 riot and protest while drank and wakeup in police cells,agony….is killing innocent bcoz rich pipo are takin advantage of the poor.

  14. HH

    fuck your mother pilato i don’t know you

  15. Clement samufuma

    The problem which you have you Zambians is that you give freedom to people who comes in your country but if you go in chains you are not going to be free and you are going to follow regulations and customs.

  16. Clement samufuma

    The problem which you have you Zambians is that you give freedom to people who comes in your country but if you go in China you are not going to be free and you are going to follow regulations and customsof that country.

  17. PILATO

    We know how to insult but looking at our calibre and the responsibilities we have, as if that is not enough we are responsible family men we can’t can’t insult anymore an like you sleeping in the kitchen

  18. PILATO

    INSTEAD OF TALKING ABOUT CREDIBLE THIS YOU ARE BUSY INSULTING ANYWAY THAT’S WHAT PUPPETS CAN DO

  19. Muntu

    Let us make our economics more practical and not theoritical. The China of yester years is not the same China today. Different regimes with different motives have taken over China. Why is America also complaining about China? Yet we are being advised through economic theory to be careful with China.

  20. Muntu Usiya

    Does it mean dat we shud b slaves wen china z a shareholder at IMF & World Bank?we’ve leaders 2 rule zambia & nt Chines

  21. BBC

    Just today at Sunshare building, I had a confrontation with a chinese. I was in the escalator going onto the 3rd floor. Surprisingly the escalator went to the basement. The china man starting telling me to say f.u.ck you don’t you know that the escalator is going to the basement. I told him to say it is non of your business whether I go to the basement or the 11th floor or whatever. He just kept on saying f.u.c.k u I just told him to say you are an idiot. Get back to your country. Just from nowhere this guy just started insulting me.

  22. Chidano Chinoda

    The UPND & HH are ashamed they know come 2021 most of the projects will have bn completed and they will have nothing to point at or to offer to Zambians

  23. Çhêd Dhæ Røman-kñîght

    Kkkkk but u Fundanga

  24. Linyungandambo

    Anyway???

  25. Jms

    I don’t know if fundanga is advising let me tell you as for you name among those who had a big Post as such you should be free and open by giving a good advise to people. Nerve open your mouth if you can’t advise (we have seen that cowardly behaviours has made such people keep on talking as if they are just teachers SPEAK AND KNOW WHAT GOOD YOUR SAY WILL HELP THE SITUATION NOT BRINGING QUESTIONS AGAIN

  26. Clement MWEWA

    Kikikiki let’s put all in hands of the lord us we are near a change time

  27. Lulu lulu

    China is our major source of income in Zambia , without China Zambia can be poor .that’s y you will continue dying with gunshots naba choncholise because of poor , every product produced in our own country is expensive . We don’t know which government will rescue Zambia from this tragical matter vinthu vadula ,low salaries ,high taxies God have mercy for our nation .

  28. Mwila Midas

    Fake pilato shut up we should be thankful of what China has done by assisting us with low interest loans because Britain can not do it or they did was laugh at us.

  29. Mwila Midas

    Everything is getting expensive in the globe and not only Zambia do you travel overseas sometimes you must get to travel ask how things are moving in other countries don’t be idore.

    • Mwila

      Every one in the globe is suffering you idiot you must do your research almost every country is complaining I hate living the same country as you foolish complaining ignorant human.

  30. Treason

    Zambians Are Suffering. Stupid Statement

  31. internet user

    Let’s pray to God as we are finding the solution to this

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