By Anthony Bwalya
IT IS FOOLISH OF PF TO POSTPONE DEBT IN ORDER TO FUND THEIR 2021 CAMPAIGNS.
Since the 12 months 2012, the Patriotic Front (PF) had been entrenching political energy the use of over the top public borrowing to assuage an incessantly unsuspecting Zambian public below the guise of infrastructure building.
Here is a few standpoint: the PF have since borrowed round $20bn, in each native and overseas debt.
Out of this quantity, best $7.4bn has in reality been used to construct roads, hospitals and faculties constructions – not anything to do with precise skill for other folks to get entry to first rate, inexpensive public healthcare or schooling services and products.
The different $12.6bn has actually been stolen via PF politicians, who’ve additional diverted considerable parts into celebration mobilisation actions of the PF all around the nation.
This is the cash Zambians now see Ministers and MPs, together with cadres from the PF, now throwing round in presents and empowerment initiatives.
Literally, everybody within the PF has morphed right into a MOTHER THERESA and a charitable group via themselves. They are all giving, giving and giving.
I’ve at all times discussed, that ALL the so-called empowerment schemes being backed via the PF are anchored on natural felony actions of robbery, corruption and fraud in opposition to the Zambian other folks.
Where do you assume the so-called Presidential Empowerment Fund Initiative will get its cash from? And the place do you assume the so-called Kalumbila Cooperative get its cash from?
So, now, public coffers are dry. The best other folks and organisation with cash is the PF, or even theirs is speedy drying up.
ENTER DEBT REPAYMENT POSTPONMENT NOISE
You see, the PF know really well, that the poverty lure they’ve intentionally orchestrated in Zambia will very quickly backfire on them and probably stir civil unrest and a virtually rapid call for for them to vacate place of business.
This is what occurs everytime and far and wide when the financial system fails and other folks get started scrapping for a residing, with out a significant get entry to to well being or schooling, no longer even jobs and the forex collapses.
See Zimbabwe and Venezuela.
So, what do they do? With lower than one year to a ancient normal election in Zambia, the regime are in quest of the keys to the money vault.
They began with makes an attempt to make use of BILL 10 as a device to transport financial coverage operations from the Bank of Zambia to a dysfunctional parliament, in order that they can print cash as they please.
This has grew to become out to be a protracted course. They can not wait.
So, they’ve now began making noise asking EUROBOND holders to delay successfully $1.2bn of repayments over Six (6) months.
But the query is: what do you assume the PF require this cash for?
The Eurobond holders are NOT silly. They know what the sport plan of the PF is. With $1.2bn of their regulate, the PF can and can actually BUY OFF the overall election even earlier than it has taken position.
They will bribe the ECZ, they are going to bribe polling station officials, they are going to bribe the police, they are going to bribe the Judiciary and they are going to without a doubt bribe the voters.
If and when Eurobond holders make the error of granting this evil request via the PF, they are going to lose a lot more than the cash they’re owed. They can have contributed to throwing away Zambia’s likelihood of beginning the lengthy means of rebuilding itself and rethinking how we will make just right on our quite a lot of debt duties. Not best this, they are going to even have contributed against atmosphere the rustic on a warfare trail with itself, for the reason that penalties of a PF victory, aided via debt cash, can be catastrophic and can ring out for many future years.
WHAT ZAMBIA NEEDS NOW IS NOT MONEY.
ZAMBIA NEEDS LEADERSHIP.