By BUUMBA CHIMBULUZAMBIA needs to urgently institute a massive and demonstrable inward looking economic recovery plan that emphaises cost saving programmes that cut across all sectors of the economy, especially in areas where savings can be made to help generate revenue to pay the bondholders, an economist John Kasanga has recommended.Mr Kasanga argued that Zambia could only convince the creditors for debt referral payments if it had a strong case of revenue generation to prove that it would be able to pay back the loans, and the plan should conclude discussions with IMF.“We have to demonstrate how we are going to generate resources locally, Government right now is asking for deferral payment. The debt burden will still be there, we may delay when it has to be paid but we will still have to pay,” he said.Mr Kasanga emphasised that Zambia needed to demonstrate how it would generate revenue locally to meet the payments even […]
URGENT ECONOMIC PLAN VITAL
