Politics

HH Advises Govt To Stop Borrowing

UPND president Hakainde Hichilema has challenged Finance Minister Bwalya Ng’andu to tell the nation where the $515 million exceptional revenue will be sourced from to finance part of the 2020 national budget.
Hichilema has urged the government not to borrow anymore, unless it is refinancing under more amicable terms.
He  reiterated that some of the problems facing the nation are  a result of over borrowing and poor governance.
The UPND leader said blaming climate change for the challenges facing the nation is unrealistic, adding that “all these can be resolved if they stop corruption and borrowing”.
He said he will, once in government, ensure that Zambia’s debt is reduced to avoid plunging the country into a debt crisis.
Finance Minister Bwalya Ng’andu plans to obtain almost 10 per cent of Zambia’s total income next year from undisclosed sources, raising concerns about the accuracy and sustainability of government spending plans for 2020.
The budget, which Dr Ng’andu presented in Parliament, contains 6.75 billion kwacha ($515 million) of “exceptional revenue” that could further stretch the country’s finances if it doesn’t materialize.

Government debt has surged from 20 per cent of gross domestic product a decade ago to a projected 91.6 per cent this year, prompting the International Monetary Fund to warn that Zambia is at high risk of debt distress.

“There’s a process tagged to this and an announcement will be made as soon as the process completion is attained,” a Finance Ministry spokesman said in response to questions about the source of the funds.

 

55 Comments

  1. Impyakusu ichinyo

    That’s why education is needed to a leader

    Reply
  2. Chakolwa chapona

    Indeed HH you are a great man in this country who shud rule this nation

    Reply
    • My Wife

      True HH wants to learn where the government will find mine for 2020 budget. Ifyo. Tulandila Job on training is not required in politics .pls just identify your self that you are born a politician not that if that one is a politician then you can be a politician. HH stand as as a councillor or an Mp and we see your performance . we have not seen or impressed with your performance. You HH and your team under Mwanawasa you sold the mines and pocketed cash into your business and to day you come show that you are good economist. fake economist. HH He Graduated yes but blank.

      Reply
      • Panyo

        Panyo pabamayi book noko icinyo swiñe

        Reply
      • FUCKER

        Fuckn PF ….please..listen to these advices…otherwise you’ll leave the next government in soup…then people again will start complaining that the New government is not working.Fuckn idiots you’re failure…pave way for fresh minded people..HH..for life.

        Reply
  3. Winnipeg Nyirongo

    Let the Finance Minister, Dr. Bwalya Ng’andu disclose the source of financing the ” exceptional revenue”‘. Mind you, money does not need climate change but it only needs “ECONOMIC DOCTORS” to work on our struggling, staggering, plunging and dwindling economy in Zambia like HH, Dr. Ng’andu Magande, Dr. Habazoka, Margaret Mwanakatwe and Dr Bwalya Ng’andu to work as a team NOT in isolation!!!!! Otherwise, The International Monetary Fund will withdraw from helping Zambia in terms of Finances. The IMF has told Zambia that we are in debt distress meaning very soon we will reach debt crisis but many Zambians do not understand economic terms. Even at household level, if you borrow more than you earn at the month end your house will fall into a debt trap and the case will end in Courts if the debtors sue you to the Courts of Law. Thanks

    Reply
  4. pfools

    This are the pipo we want in the country, not thoz who just think steeling the money of ours . great message indeed coming from a humble leader.

    Reply
  5. Impyakusu ichinyo

    Nyirongo you have a point here you are the only easterner I have seen with wisdom and understanding the economy

    Reply
  6. Bruno mars the moonshine jungle master

    Wonderful ba hh

    Reply
  7. Kbf

    The arogance of pf is what has caused all this economic mess. So HH will be told that ‘zambia is still within threshhold to borrow’

    Reply
  8. dance

    Mr hh you are correct!! Blaming the climate change is unwise and lack of knowledge!!

    Reply
  9. Jpower

    Hh you are right

    Reply
  10. Jabulani

    Fuck pf

    Reply
  11. vince

    That’s where the problem is Africans don’t know that Europe depends on u for it to develop further, & u r there pleading with them, HH truly must help Zambia to change this mentality,WAKE UP Africa, Its like a landlord pleading for his 3 mth arrears frm the renant

    Reply
  12. Man Jay

    HH is right govt needs to stop borrowing from these foreign govts instead borrow locally & that $515million it will be hard to raise at the end of the day they will decide to borrow to the IMF it’s sad mwandi.

    Reply
  13. Martin

    Jail the idiots if you come into power

    Reply
  14. Chakalifya koswe

    The so called hakainde must stop driving his vehicles from our roads he is s person who has no capacity to drive. Zambia forward he thinks below his own foolish every. Zambian knows how you swindled. Zambians surrender that money to us then that’s when we shall allow you to talk a bout corruption without that you will never. Never never never never never enter state house

    Reply
  15. nshilimubemba

    Is this leader free from borrowing, you can not run business if you can not borrow.
    No country in this world is debt free, the more you grow the more you borrow that is how life goes.
    There is no development with credit.

    Reply
  16. Man Roberto

    Jesus once told a group of people who wanted to stone a woman who was caught in the act. ” ushaibapo, abule ili bwe amutobe”. Such scenes tell stories. You mite foolishly forget, nomba, takalaba mwebwa. The money in foreign banks, is helping those countries to develop. Leaving our mother Zambia on rocks. Hiding in politics is un patriotic to all of us. Ndeloleshafye!!!

    Reply
  17. smith

    I agree with Mr.HH said!
    I think Mr.HH is a nice person
    we are was just dislike important person.like HH , We have to realize our mistakes guys,
    Me I am ready to vote for HH in 2021, maybe country can change for the better,
    Not a president only know how to sell a country properties, and make a country have nothing.
    HH 2021 is your season and you will going to win the election,
    I PROMISE YOU!

    Reply
  18. Mweene

    Well said Mr president

    Reply
  19. vm

    This issue of Pay Forward (PF) by PF is not right, They won’t be there when these monies are due,

    Reply
  20. Mulenga

    HH

    Reply
  21. Mulenga

    I like your analysis sir

    Reply
  22. Rastafarian

    So where will you get the money yourself Mr hh?your own party is corrupt, so how are you going to stop corruption when you will be in government?you want to be a leader in upnd until death, is that not corruption?

    Reply
    • The fame

      Rastafarian you are fucking dull..u clearly don’t think…I think u should try go to school to gain some knowledge coz you u have no idea on what HH is trying to tell the people

      Reply
  23. Ok

    #Rastafarian, it is not corruption but dictictorship. In short once he gets to power it will be difficult to remove him.

    Reply
  24. Ok

    I meant dictatorship, like idi Amin.

    Reply
  25. Joshua Kafwimbi

    Wisdom is not a simple thing.
    How many presidents have led this country? You still complain. Even those you think will do better it will just be the same thing. If really HH wants goodness for the country, let him help in advising the government.
    Remember, children at home will be complaining even when you do good things to them. HH help your people not to be against and criticising your opponent. Help the country!

    Reply
  26. VLC

    Wonderful! That’s what I want you to be working. Not ukushupana for nothing bana bandit. Congratulations HH!

    Reply
  27. Chi.2

    He z 4getting that even that presidency he z borrowing 4 not going ku convention 4 decades.

    Reply
  28. 14 yrs old

    Why . Why should we stop borrowing , ok let’s do this , when the country has ran out of revenue we will come to borrow from u .

    Reply
  29. Ngwalusungu

    Economist with no wisdow is a danger 2 our country but need a leader who wil rule as team. Unles if UPND Team wins finance ministry wil b president HH And once more educated hav grouped there is no wisdom only pride bcoz every idea is best 4 developmt. In 2021, if a wonders can happen upnd can win but i don’t blieve it wil

    Reply
  30. SEE MIND (MWAMPO)

    GOOD ADVISER HH CONTINUEING TO CONTROL PF GOVERNMENT THEIR NO VISIONS. POOR LEADERSHIP. COST OF LIVING IS TOO MUCH DOMESTIC DAILY USED VERY HIGHER. GO AHEAD HH THANK YUO !!!

    Reply
  31. Franz Tembo

    Mr H H don’t waste your precious time on advising the govt just concentrate on building your party.u have seen the weakness and threats of opponents capitalise on them,l hope u can form desirable govt.

    Reply
  32. Umupondo

    President of the people, good advise. Uushumfwa patunono ninshi lwakwe

    Reply
  33. Political Analyst

    HH is the in coming president of Zambia…those are true facts

    Reply
  34. Kambai man wisdom

    That’s true mr hichilema ,pleas help this country

    Reply
  35. Kicks

    Thanks Alot Mr President.

    Reply
  36. Naw jens

    that’s why Lungu he didn’t know were the country is going now even you Zambians you should know how to choose leaders of the nation
    Now if he is over borrowing money who is going to pay that money that is being stupid he doesn’t do that idiot

    Reply
  37. Gbm

    Mbolo yako hh

    Reply
  38. AN ADVOCATE FOR YOUTH CHANGE

    Honestly speaking, the PF government is not doing well in every sector and departments…. Lets vote for change pipo…

    Reply
  39. Giftano

    No hide and seek game here, no politicising things here. It is important to convince the nation through elaborating issues one by one by which means and sources will the gvt raise such huge amount of money. We need to knw, nation budget is not home based or family budget it is a collective thing to achieve. Mr ng’andu here u are explain to the nation clearly b4 u go on implementing that. If it is borowing let it not be beyond 20%. A man who does his business largely borowing never succeed as expected, same applies to the nation. A nation that puts borowing ahead wil always remain a complaining nation

    Reply
  40. Giftano

    Hh is nt a thief if he was a thief in the privatisation era, this time ngatwali mukaka akale. This man is innocent he has no criminal record at all. People u cant declare that some one like HH Wl never enter state house as if it is yo own house no! After all even yo so caled house is prone to police warantees at some time then who are u to declare that hh cant b presido?. If hh wl be a presido who ar u to judge?

    Reply
  41. Ben banana

    Ignorant is too bad, thief is by hand not just saying without any evidence

    Reply
  42. Emmanuel mj

    Come 2021 HH you have my vote…

    Reply
  43. Ib

    Lekeni ifupuba filamfwa y tafwile mwembwamwe chikala hh

    Reply
  44. Christopher M Mutambo

    let’s just wait and see!

    Reply
  45. lucky tembo

    Thats our big man HH

    Reply
  46. Nseele

    Don’t hv a shallow mind u pipo, HHis right.

    Reply
  47. lufuma muunda

    wiseman

    Reply
  48. chabakola urban

    Let’s be level headed,insult just shows how narrow minded someone can be.don’t accept anything you cannot explain in a layman’s language.the country has been ruled by chancers who has had no understanding on how to run an economy.look around and take for an example Botswana ,in comparison with zambia,say it out,what do you see?

    Reply

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