Maravi

Letters - HH’s comment on debt trap

HH’s comment on debt trap
Written by John Milimo, Nairobi, Kenya

The statement made by Hakainde Hichilema that Zambia risks falling into a dept trap because of lack of a dept acquisition policy to control external borrowing should be taken with absolute seriousness.

The recent depreciation of the kwacha is a sign of what will be happening if the nation continues with unnecessary external borrowing.

External borrowing in itself is not wrong but it should be controlled in order to establish a good constant circulation of money in the nation.

This instability of the kwacha at the moment should create in our leaders a certain curiosity to come up with clear and distinct strategic plans in order to combat this crisis.

This entails a lot of hard work both on the part of the government and the citizens. As citizens, we should not stand aloof thinking that we are exempted from this task. We must work hand in hand with the government so that the nation can be alleviated from its present predicament.

It is the duty of the government to make sure that everyone has the basic needs of life such as water, food and shelter.

Our nation is naturally endowed with a lot of riches but the problem is the mismanagement on the part of those who handle the resources of the nation.

The practical task to be taken into consideration now is to lay a strong foundation towards economic development by being accountable and responsible with the management of the resources of the nation.

Many politicians speak of economic development as part of their manifestoes but the reality on the ground is that all they say remain mere theories.

This is an era where politicians should have a pragmatic approach to their leadership and show a sincere commitment of seeking the wellbeing of everyone in the nation.

Paradoxically, many are derailed after obtaining leadership positions. Where have we gone wrong, if I may ask?

Labels: DEBT, DOMESTIC DEBT, HAKAINDE HICHILEMA

posted by MrK @ 8:14 PM