By DARLINGTON CHILUBAMONEY can be impartial, but he that lends it always has an agenda. In the case of countries, that agenda is couched in the philosophies or belief systems of the lenders. Zambia’s debt profile, for example, has become a subtle philosophical battlefield between the West who are owed approximately $3 billion or more, and the East (especially China) who are owed far more money in billions.While much has been said about China’s intentions in Africa and Zambia, with its outlay of huge capital loans, what about the West, what are their intentions?These issues influence the price of basics such as bread and butter, the price of fuel and indeed the price of our money relative to other currencies.As the country pursues a debt management programme to restore investor confidence and perception to the wider economic world it is important to put these emotive issues into context.This is without taking away the financial support […]
THE PHILOSOPHY OF DEBT
