JCTR sets agenda for visiting Zoellick

JCTR sets agenda for visiting Zoellick
By Mutale Kapekele
Wed 15 Dec. 2010, 04:03 CAT

THE World Bank president Robert Zoellick should address Zambia’s borrowing mechanism, says the Jesuit Centre for Theological Reflections. Zoellick is expected in the country tomorrow on a two-day visit. Currently Zambia has no borrowing mechanism and the minister of finance has the power to contract debt without consultation.

JCTR programs officer for debt, aid and trade Chilufya Chileshe said if left unchecked, the country could increase its debt burden.

“We expect them World Bank to show commitment to helping Zambia and to ensure that the country had a responsible borrowing mechanism,” Chileshe said.

“We Zambia still don’t have the legal framework for debt contraction; the minister of finance can still borrow on the country’s behalf without consulting anyone, not even Parliament. It is very important that currently the bank says Zambia’s economic indicators look fairly good but they should assist us to come up with a mechanism that will allow Parliament and the public to get involved in debt contraction.”

She said multilateral organizations like the World Bank should practice responsible lending as they dealt with countries like Zambia.

“They should ensure that there is responsible lending,” she said. “They should first of all establish that leaders have the capacity to manage the funds, that leaders are not corrupt and that they will use those funds for the benefit of the people they govern. Rich countries should not give resources where they know that there is no capacity.”

Chileshe said JCTR expected Zoellick to address the issue of World Bank projects that were result oriented and also to give his views on the country’s development progress.

Chileshe said the bank should assist Zambia to leverage its China and India relationship for the country’s benefit.

While in Zambia, Zoellick is expected to meet with President Rupiah Banda, the mining stakeholders and civil society.

Zoellick will also visit World Bank funded projects including a site visit at Zambeef, which recently received US$10 million funding from the bank.