New Zambian President Hakainde Hichilema told the press that five months after taking over a heavily indebted country, the new government is making a lot of progress in its economy, credibility, and solvency. This is what he said.
As of last year, the country owed 12.7 billion euros, a third of which was owed to Chinese creditors. This made it the first African country since the start of the Covid-19 pandemic to default on its debt.
After 100 days in power and a lot of talks, the new Zambian president got a promise of 1.24 billion euros in aid from the IMF at the beginning of December. This was a chance for the country, which has been snagged by a huge debt, to get its head above water.
It's hard to get out of debt ""We could have put the new government in crisis," said Mr. Hichilema. "We were able to quickly deal with this default."
If you want to be credible, you have to make a gesture that goes with the words. "There is no doubt about it," he said in an interview he gave while on a trip to South Africa.
The three-year deal in principle was agreed to based on the government's promise to make major economic changes.
People make hard changes.
Mr. Hichilema admits that the job "isn't easy," but he points out that he has already made progress.
For the first time in 17 years, Zambia's currency has risen in value. The president is very happy about this "During the first few months of his presidency, we've been able to keep inflation down.
Even so, though, "We know how hard it is. Because the hole is deeper, some things will take a little longer, but we have to get out of this hole together "He said that.
In August, "HH," the person who has always been against him, was elected president. He said that he would get rid of a lot of corruption, revive the economy, and bring back investors. People in the landlocked southern African country and around the world are excited about his election because they think it's a good thing for democracy on the whole continent.
In this poor country, even though it has a lot of copper, half of the people live below the poverty line. People have high expectations because of the election victory.
There are opposition parties in Africa who hope that Hichilema's surprise election will give them hope on a continent where incumbent leaders often manipulate the votes.
Zambia's president wants other leaders in the region to follow their country's constitutions.
I'm learning even though I'm a "new kid on the block." At the same time, I'm telling my colleagues that we can do better.
"As a continent, we can be thought of in different ways. Constitutionalism, human rights, democratic space, and inclusion, not exclusion, should be the things that define us. We should not be known by military coups "In this case, I would say:
Content created and supplied by: Mboti (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More