President Edgar Lungu says he is not ashamed of Zambia’s indebtedness because the money has been used to finance the massive Infrastructure development taking place around the country.
President Lungu said he is pleased that money from Zambia’s debt has not been misappropriated but has been used to build infrastructure which people are now benefiting from.
The Head of State dispelled assertions that his administration has been reckless in borrowing money for infrastructure projects and maintained that it is from borrowing that Lusaka and the rest of the country are being transformed.
“What Is Better, borrowing to transform the country; or not borrowing and doing nothing at all? It is from borrowing that we have managed to rebuild Lusaka,” said President Lungu.
The President made the remarks when he commissioned the Arcades Fly Over Bridge along the Great East Road as part of the 289 million united states dollars financed Lusaka Decongestion Project.
The Arcades Fly Over Bridge is intended to decongest traffic at the Intersection of Great East, Thabo Mbeki and Katima Mulilo roads.
Two more Bridges at Munali and Longacres are expected to be completed with some selected roads expanded to improve flow of traffic while at the same time beautifying the city.
President Lungu said the construction and commissioning of the Arcades Fly Over Bridge and the improved road network among other infrastructure development has been his dream, to see Lusaka and the entire country change for the better.
“Two days ago, we were remembering President Michael Chilufya Sata, whose vision, amongst many other things, was to see the transformation of Zambia through infrastructure development. President Sata would not have been disappointed to see what we have done in fulfilling his dream. Lusaka has been transformed. Zambia has been transformed”, stated President Lungu.
The President said he will not be deterred by detractors from pursuing the PF collective vision of rebuilding Zambia through infrastructure projects.
President Lungu said infrastructure development is necessary to attract investment to the country because investors want good and proper road networks.
The President thanked India for financing 85 per cent of the Lusaka Decongestion project while government will continue to honour its 15 per cent financing stake.
The Head of State has since urged cooperating partners to continue supporting Zambia’s development agenda because his administration has the will and zeal to rebuild Zambia.
Local Government Minister Charles Banda whose ministry is overseeing the Lusaka Decongestion Project, disclosed that the project has reached 80 per cent.
Dr Banda said the commissioning of the Makeni and Arcades Fly Over Bridges demonstrate government’s commitment to putting up infrastructure that will help drive economic and social development in the country.
And Indian High Commissioner to Zambia Ngulkham Gangte said his country remains committed to supporting Zambia’s economic and social development agenda.
High Commissioner Gangte said India’s development cooperation has no conditions and is based on the needs of the country it is assisting.
He explained that the new infrastructure being built under the Lusaka Decongestion Project is disaster resilient and of superior quality and durability.
The Indian envoy described the Lusaka Decongestion Project as a tangible achievement that has changed the landscape of Lusaka City and deepened development cooperation between the two countries.
High Commissioner Gangte said Constructors of the project, AFCONS remain on course to complete the decongestion project despite the outbreak of the COVID-19 pandemic which has affected the socio-economic activities in the country and the world.
And Local Government Permanent Secretary Ed Chomba thanked President Lungu for the project that has changed the face of Lusaka and shamed critics of the PF Administration.
The commissioning of the Arcades Fly Over Bridge was witnessed by PF Secretary General Davies Mwila, Minister of Infrastructure Vincent Mwale , Lusaka Province Minister Bowman Lusambo, Senior Party and Government Officials and members of the diplomatic corp.
A sea of Patriotic Front cadres joined Lusaka residents to witness the commissioning of the second fly over bridge under the Lusaka decongestion projects.
Yamuloile ushwile.
Because you’re a thief and how can a thief be ashamed of his thieving acts!?
Just like a lazy man he is not ashamed of his laziness.
The Zambia’s indebtedness has direct consequences for future generations we shall spend millions paying for those loans by that time your so called Infrastructures will have reached dilapidated state and yet you got kickbacks from them.
I pray you will be prosecuted for wrong doings.
PF must go!
Lusaka equals Zambia
This is same person who recently bemoaned the level of corruption on Government contracts on the Copperbelt. Be assured 50% of the cost of this bridge has gone in PF cadres pockets. We know you cant be ashamed of that.
This loon has a poor mentality ,… very very poor. The whole lot of himself over a single fly over bridge which is 85% financed by foreign money?? Borrowing could have been managed better such that you are not left dry you ijiot!
The man said it on countless occasions – he has no vision. The man is a thief by profession and a drunkard.
There is nothing wrong in borrowing money however there must be a cohesive plan steam of income revenue to pay it off. Unlike the first world countries Zambia does not have the industries nor revenue to pay this $27 billion debt
Foolish man!!
Thats like saying I don’t care if my children sleep hungry every night as long as I have a new landcruiser parked outside.
Sir you borrow but not to a level where you run out of money due to debt servicing that you fail to respond to emergencies, you fail to pay 27 million dollars only to import power from south Africa, you borrow but not to an extent where you fail to pay salaries on time, you borrow but not to a level where you start failing to pay back borrowed money, remember our issues started way before covid. Yes we should borrow but not debts to the tune of 102% of GDP, No please
baba you are gone… its normal business for government to build infrastructure ….
here presidents don’t even commission fly over bridges… its common council business
Ubututu
Hmm Lungu zoona! I didn’t expect that! Countrymen and women, brace yourselves for troubled times
Borrowing to an extent of being on the verge of the countries assets being seized by bondholders is shameful. You now have an exchange rate that is junk and and has led to the debt to rise even further. Just pray that we don’t end up with vulture funds who can be ruthless.
This is the sort of arrogance that people get before leaving office. Not ashamed of the debt because you are not the one paying back. By calculation, every Zambian is USD1,000 in debt from 2011 when they were debt free. This is shameful and Lusaka and Copperbelt will render an indictment on your 10 years in office. This by far is the least effective government Zambia has had. BaMwankole.
Typical of a Zambian man. Happy to borrow but kumanyamanya to pay back. Relying on pity.
but good roads are a normal thing to have in any nation, nothing to boast about, it is not like you went the moon!! that is the money you charge motorists , ( road tax) nothing to sing about! 56 years later and $@& billion in debt? mwasebans God is God, come 2021, kayak bebele, after all you became president dubiously.
No need to be ashamed. There’s no nation on earth that is not indebted. At least we borrow for development, other nations are known to borrow for arms. They borrow to fight wars which they lose and continue to borrow for their military expenses.
Does any politician have shame, why should the ringmaster of this circus be any different? “What Is better, borrowing to transform the country; or not borrowing and doing nothing at all?” said President Lungu.
Really, are these the only choices to borrow on commercial terms to point of default or do nothing at all? How about borrowing sensibly and managing projects well. Or is that too “humble”?
Every country in world has debt. So why should you be ashamed sir. With the little we have you have done the best you could. We thank you for that
Look at him he doesn’t contribute any single penny to the tax coffers and yet his arrogance is that we and our children should suffer to pay back the reckless borrowed debt. Shame on him and the entire PF, you call things that wear out not long from now development? Soon you will be mending more poorly constructed roads.
Ala inkongole chifunda ichansoni Sana Ala chisuma ukubwesha
Ngachafika pa sate bane ndefwaya mukabweshe indalama shandi
They borrowed until they couldn’t pay back. Sitilesa nkongole abale. Manje kakongoledwe ndiye kamene tidabwa! Infrastructure should not attract a head of state to commission and make speeches ndipo. Mutisewanya mwe…
I like the comment of the white bottom cleaner engineer. “Baba, you are gone” kwekwekwekwekwekwe…the i.d.!ot can’t even afford a ticket just to come and vote!! You can feel the hate. But what surprises me is that, in Luapula and Northern, PF won by landslides. So where’s ECL going?? Maybe all the poupou from the old white folks has confused his brain… kwekwekwekwekwekwe…
Thank you Mr President, we are behind your government. Let the haters burn inside their hearts as they wait in vain for god’s presidency.
There’s more traffic congestion at Arcades the fabled flyover bridge has been rendered useless. Utupuba tuletalika?
“What Is Better, borrowing to transform the country; or not borrowing and doing nothing at all?”
Collecting a Windfall Tax – and not paying interest or being in debt.
Lungu stupid and foolish. Zambians are blind as they refuse to engage in reality.
Just borrowing with no plan to pay it back. A real drunkard. Zambia will suffer long after Lungu perishes and is buried for the poor choices and management that lazy lungu has executed.
You borrow, but you have no plan about how you will reimburse the funds. Additionally, you have no plans about how to maintain those roads. That guy with rotten teeth has destroyed the country.
Because you’re a thief and how can a thief be ashamed of his thieving acts!?
Just like a lazy man he is not ashamed of his laziness.
The Zambia’s indebtedness has direct consequences for future generations we shall spend millions paying for those loans by that time your so called Infrastructures will have reached dilapidated state and yet you got kickbacks from them.
I pray for his prosecution!
How about generating and using our own money?
“President Lungu said he is pleased that money from Zambia’s debt has not been misappropriated”
Like we don’t know that the cost of every project developed from borrowed funds have been grossly inflated. Mr. President, you are sicker than I thought. Thank God we only have less than a year to put up with your corruption and visionless leadership.
Even my grade 7 garden boy back home can build those bridges with borrowed money, on top of that he can manage repayments on those borrowed monies while seeing the country is producing…
Not you lungu…..you borrow then fail to payback while the economy is collapsing………
Not ashamed of a black hole in Zambia’s public finances? I’m gutted.
Spaka so you moved to UK to clean toilet while employing a grade 7 garden boy who is probably sleeping with your wlfe here back home.
Lungu you have lamentably failed….
You don’t have shame for the debt and state of the economy because you are mediocre, useless.
There is need for a well read young people in our country to be in prominent places of leadership
KZ
We don’t clean toilets , we design toilets for astronauts , jetliners and submariners , mwaiche….
Unbelievable! To hear this from someone purporting to be a president of a country shamelessly being proud of debt the country cannot afford to repay really leaves me with anger.
If he was borrowing for himself at his own personal expense I wouldn’t care less. But he is committing the country and generations of Zambians to come. Even on personal level you borrow within your means not bankrupting yourself.
And the borrowed money has just been misappropriated and stolen by yourself Lungu and your minions. I went to Zambia last year and there was nothing to show for in infrastructure you keep boasting about.
C/belt and Mufulira looked like a ghost place and the road there had long patches of gravel and dust with about 5 toll gates along the way. Same thing with the road to Western province and Mongu looked worse than many years ago with only sand around town market area patched. So what infrastructure is this goon boasting about? Those uncoordinated structures in Lusaka are being built by private companies and people or foreign with poor planning… the new housing development areas have no sewage systems or water and people are digging boreholes; they don’t even have house street numbers…
So the government borrows huge sums whose lions share are to beautify Lusaka? Development indeed, from the pictures shared by the media I couldn’t help noticing the craters in the floors of the school that was recently used as a polling station in Chilubi and some broken piece of board painted black that a teacher uses to conduct lessons! I note @ Manganizo and share his sentiment! How can one surely be sourcing/earning money to keep upgrading his yard and neighborhood while their relatives in the village are still devoid of basic needs but are informed to feel free to come and prove for themselves what is being achieved with all monies generated!
Firstly, it’s a fact that most of the borrowed money cannot be accounted for. You have less to show for all that money. A few roads and a few rickety bridges. What were the bonds spent on? Look at the railways. Move from the line of rail and the small towns and settlements haven’t changed much. By the way, what happened to using local resources for building infrastructure? Where is all the money that is collected?
He has no shame. Do you have the capacity to produce enough with your clueless economic vision to be able to repay all that debt? Who is meant to pay back as you continue on this reckless route? Where are the taxes and local resources meant to prop infrastructure development? Borrowing should only be within sensibility and ability to repay. That’s why you should not compare with developed countries that can afford to borrow because of a strong productive base.
Your Excellency, I am pleading, please pay the retirees before you leave office .The incoming government will have a lot on their plate including the debt issued almost $ 30 billion. Most of the roads were shadily made and not sustainable meaning they need a retouch. Pay up Boss, 2021 ali pa kona.
THE REAL PROBLEM IN ZAMBIA IS NOT THE DEBT BUT THE PALTRY GDP
WITH A HIGHER GDP WE WOULD NOT BORROW SO MUCH AND EMPLOYMENT LEVELS WOULD BE HIGHER AND POVERTY WOULD BE LESS.
FOR ALL THIS TO HAPPEN WE REQUIRE A NEW ECONOMIC MODEL FOR ZAMBIA
GOD HELP US
Holders of Zambia’s Eurobonds hv taken note of this statement. And they will be asking questions the nxt time there’s a meetimg to consider giving Zambia temporary interest payment suspension. ECL is actually saying if he could turn back time, he would do exactly the same thing.
So much for saying the country has no debt. These guys know that they can not improve the situation in the country. They know that the damage they have caused is irreversible.
God is watching them, look at the state of the previous office bearers.
He is trying, at least give him some credit for the effort. President Lungu means well, it’s his henchmen who have become unruly and law to themselves. Look, he gave us dual nationality status and has even allowed bill 10 to fall but you people continue to insult him. My only issue with him is that he has not strengthened the structures to deal with corruption. In fact, he is now turning our once disciplined security wings in to political cadres.
As for me the youths Im referring to B flow and Malembe malembe are hiding under the Bridge writing an apology and I have spoken to their parents
Love You Mr President
There is nothing to be ashamed of the debts sir. There is hardly any developing country in the world that has not taken loan from rich and developed countries.
The assets created from the bets will serve the nation for decades to come. And the assets will pay for themselves as the time passes.
Those criticising the government for the debts must see the infrastructure developed across the country. It is from the debts only. The people of Zambia are using the roads and other infrastructure developed from the debts.
I know that the funds were borrowed for the nation and not any individual. Then, the question of being ashamed or whatever doesn’t arise at all.
Raising doubts over the debts is nothing but political. The good for nothing opposition has nothing else to do but suspect everything happening under the sun. They deserve to be ignored, for larger good.
@spaka how can you design toilets when all you left in your village is a hole in the ground.kikikikiki
So says the person who stole all the money
Mr president sir, these speed humps are old fashioned and expensive to construct. Ten years from now these bridges will be like the old bridge at kabwe and kafue round about. I thought you have travelled world over and see how your fellow presidents are doing with regards modern infrastructure.
KZ
It is lungu who found people using pit latrines in chawama when he was MP , he went to state house and still left them sh.tting in pit latrines up to today……
When building roads costs more per km here than it does in a country like Australia, and their roads are ten times the quality of ours, then you know there is digusting corruption afoot. Of course he isn’t ashamed. He has no shame. He steals the money from our coffers and honestly believes he deserves it. This is who we chose to be our mighty leader. To reflect the values we hold dear. Then we wonder why nobody outside of our country believe in our strength of ‘democracy’ anymore. It’s time to stand up as a nation and put an end to this.