ARE EXPECTATIONS OF MILLENNIAL-GENERATION TOO HIGH IN ZAMBIA?THE new Zambian President Hakainde Hichilema took of fice last Tuesday, 12 days after defeating the incum bent Edgar Lungu in the just-ended general election. However, the UPND administration will face two key challenges: reviv ing the country’s democratic credentials and stimulating the economy. To achieve this, the new administration must have at least four priorities. These are regaining credibility with the interna tional financiers, fighting corruption, curtailing the dominance of the executive branch of government, and ending the reign of terror by political party vigilantes, notoriously known as “party cadres”. Economic debt is Zambia’s biggest challenge. Under the previous regime, the debt ballooned from 36% to 110% of Gross Domes tic Product (GDP). Zambia defaulted on repaying US$42.5m in interest on a Eurobond in November 2020. The negative impacts of debt servicing had been deeply felt across Zambian households. Multiple factors contributed to the rising debt – […]
ARE EXPECTATIONS OF MILLENNIAL-GENERATION TOO HIGH IN ZAMBIA?
