Lenders urged to cancel Zambia's debt as the country faces economic collapse
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- Опубликовано: 18 сен 2024
- Over 100 economists and academics have called on international lenders to write off a significant portion of loans taken by Zambia.
This in lead up to financial restructuring negotiations involving the Chinese, French, and British governments.
The experts say only a major debt write-off could save the Zambian economy.
For reaction, we are now joined by Zambia Economist and our regular contributor Yusuf Dodia.
For more news, visit sabcnews.com and also #SABCNews on all Social Media platforms.
Inflation is the single worst thing for the economy. It is worse than a stock market crash, it is worse than a recession, and it is worse than a housing market crash. It is an economic killer. It has to be stopped before we sort out the rest. Powell's problem is he is late to the party and is still moving too slowly.
Just keep increasing the population of the country at the current rate are things will get better honest no shorter wait times and economy is worst too.
@@legilooks At this point, Canada has several potential catastrophic issues looming that it doesn’t seem like much is being done about, and even if they solved those problems they are still screwed because of a terminal demographic.
@@bonifaciomazzanti1251 With the inflation what it is, the stock isn't going to be raking in huge gains. It wouldn't be a bad time to BUY it, just don't expect big gains from it for a while. I'll buy once things start looking up in all those trouble areas..until then, too much turbulence for me.
@@elizabethangus6628
@@younglee-segredo831 I need guidance so i can salvage my bag due to the massive dips and come up with better strategies. How can i reach this FA?
The lenders should be merciless and auction Zambia
... and the ANC is taking SA down the same road!
We are in a dire predicament but we hope we can move out of this situation sooner than is expected.
Yusef always put you phone on silent during an interview
When will African leaders learn to stop taking loans 🙄
when they learn to serve the people and nót themselves and their cronies
I have high hopes in the current administration under the leadership of H.H. he is a man with a vision and his recent actions show his commitment to put Zambia back on the map once again. All the best to the beautiful country and it's nice people. Don't loose hope as you are the only functional democracy in this region.
This is the country that the ANC sent a delegation for benchmarking... 😮
Were they benchmarking on how to COLLAPSE A COUNTRY 🤔 😕 😅 🤣
The same Zambia that has been bragging about their currency that has gained strength is now collapsing 🙅🏾♀️🙅🏾♀️ Wonders never cease to happen 😳😳
Been wondering 🤔
I believe you must be a South African right? Well, you see right now thats exactly the difference between South Africa and Zambia(Maybe ever since): We have leaders and you u ve clowns pretending to be leaders. What this means is that, our new President (as an Economist) saw that the Debt that Zambia has is fake(it was acquired at slave interest rates) and he researched the true interest rates & all Lenders were found legally wanting(Guilty)as they took advantage of the previous clown, he then engaged all the lenders and gave them the real picture of where they took advantage of the previous clown like you ussually have their in your country. The Lenders were caught pants down but they wouldnt just give in, for the sake of many clown governments in Africa following suit(in this case, like yours).Hence they have to toughen the situation abit but believe me you, non of them will say no to Zambia.As we have facts against them. You wanna know why? Its simple. " We have the credibility to be trusted even with your eyes closed". Why? cos when the new president came into office, the first thing he did was to investigate the true Debt levels. and indeed he came back to all Lenders and told them the true Debt is not 6Billion(as the previous clown-"like the ones you always ve on your country" reported) but its infact 30Billion. So right here, tells it all about leadership. WHich you never ever have. Now go and die of jealous, as for us , we are getting pardoned of those fake interest rates and mark my word.
Also worry about your Loading shedding , which we are already as Zambia supplying you with large amounts of Electricity. Say thankyou instd than try to be smart cos if we cut you off entirely, your loadsheding will turn into 1 week of no electricity my friend. Go ask your Eskom about this.
@@godfreynkandela1674 an essay you wrote for me is too long, nevertheless I didnt write or compile the article. We have been bragged to about how Zambia has been doing well and sincerely I have been happy for your country. What's suprising is the recent developments which speak of the opposite. I dont understand why you are pained, go and heal
@@WNdaba love you brother or sister
debt restructing is going to take years to sort out in Zambia.
There is nothing wrong with having debt. and loans to build for growth, China, UK, USA, Japan all doit but as soon as there its corruption it destroys the country.
I don't think lenders will ever borrow Zambia money if that happens
Which lenders? your father?
I don't even know the lenders but the possibility of not getting the money back from someone you have borrowed money is a push factor for lenders
@@demongs7481 but it has to be money learnt at correct interest rates. Imagine you lending money to Zimbabwe now? what interest rate will the current Zimbo president give you? the least he ll give you is 200%. Otherwise 500 or even 1000%. Cos no one else out there is willing to give him money. Now, ten years later, a sober president comes in, Loved by his people & the one the West dearly loves with all their hearts - what do you think will happen then?
@@godfreynkandela1674 So what you are saying is lenders will borrow Zambia money based on a new sober President coming in? 🤔 Isn't it still a gamble? And do you think righting off the debt is the only way?
@@demongs7481 Well, its a very very complex situation behind the scenes, it cant be explained on TV for anyone to understand not even i understand it well cos our new president is a deeply financial guy and right now in Zambia, no one(figuratively) understands such things better than him. So i believe its something that he himself will eventually add on his CV as a successful negotiator. So its along those lines and its beyond University syllabuses. In simplicity i would say "No President ever gets involved in Debt negotiations" but ours says "thats what i know best". They also have to be careful cos he can easily do them in aswell-keeping in mind that IMF & the World Bank already cashed in hard and they still all saying yes write off. This never happens