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We had no clue how deep the debt cliff was, admits Nzovu

[By Walusungu Lundu in Mazabuka]

MINISTER of Green Economy and Environment Collins Nzovu says the new dawn administration had no clue how deep the debt cliff was under the PF regime.

Speaking when he featured on Wave FM in Mazabuka on Sunday, Nzovu said the debt burden was still on the neck of the UPND government.

He lamented that the PF government was reckless.

Nzovu said by the UPND forming government it does not mean that the debt would automatically go away.

He said the International Monetary Fund (IMF) was the best option Zambia had as it offered the country almost free money.

“We inherited an economy which was not performing. The debt burden is still on our neck. The debt which was used on infrastructure which is already falling apart. UPND forming government doesn’t mean that the debt is gone away,” Nzovu said. “We wouldn’t have gone anywhere else better than the IMF. We did that because they offered us almost free money. We needed to ensure that once we restructure our debt, we attract more investors.”

Meanwhile, Nzovu charged that the money that was being put into subsidies denied Zambians an opportunity to access free education, employ teachers and buy medicine.

He however, maintained that the UPND administration was owning the problems and asked Zambians for a “little bit” of time.

“Our financial sector had to be trusted. We were putting the monies in the subsidies. It was denying us money for free education, employing teachers and for medicine. We didn’t know how deep the cliff was. PF was reckless. We are owning the problems. We are doing something about the problem. We just need a little bit of time. Of course, there will be a little bit of pain,” he warned.

Nzovu said the new dawn administration was already fulfilling the promises made prior to the August12, 2021 elections.

He indicated that some promises might take a little bit of time.

Commenting on the issue of the trade in timber, Nzovu stressed the need to bring sanity in the sector and disclosed that the illegalities in the trade were still ongoing.

On the issue of Constituency Development Fund, Nzovu was optimistic that they would benefit the deserving citizens.

Asked if there would be any corruption in the disbursement of the CDF funds, Nzovu said the UPND government would meet those planning to politicise the CDF funds head on.

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