President Hakainde Hichilema says the post-debt restructuring era has an enhanced opportunity to grow the country’s economy under a new image.
Mr Hichilema states that the debt restructuring will also bring investor confidence and pay greater attention to the management of the country’s resources across all Ministries and government departments.
He said Government’s successful completion of the debt restructuring processes mark the beginning of a new chapter in Zambia’s history adding that the achievement has fulfilled a significant portion of the government’s commitment to the people of Zambia.
The President noted that government hopes it never finds itself in a crisis where debt levels become very unsustainable and that they burden the government’s treasury and hinder its ability to serve the citizens effectively.
According to a statement issued to ZANIS by the Secretary to Cabinet, Patrick Kangwa, the President said government will not tolerate unstable debt circumstances, nor will it tolerate corruption or the theft of public resources.
“Over the past two years and six months, we relentlessly engaged in complex negotiations with our official creditors, as well as private creditors, which includes the bondholders. These efforts have led to an agreement to restructure our debt over an extended period and for a lesser amount, saving our country and its treasury billions of dollars,” he added.
Mr Hichilema said his administration expects nothing less than prudence and will ensure that the law enforcement and prosecution authorities act swiftly against those who choose to engage in corrupt practices and abuse their authority.
“This pivotal moment offers us the chance to shift our collective mindset regarding the management of public affairs. We cannot ignore the fact that the unsustainable debt situation that we inherited was brought about by exorbitant expenditure, mismanagement of public resources, maladministration and indeed corruption,” he explained.
The Head of State further added that part of government’s commitment to fighting corruption is the judiciary’s enhanced capacity to prosecute cases within a space of five months, stating that more will be done to bring down the scourge.
Mr Hichilema said the would be law breakers are on their own regardless of their political affiliation, ethnicity or status.
He also assured that government will remain steadfast and committed to improving the lives of all its citizens.
The President further called on all the citizens to support debt restructuring agenda for the betterment of the country.
