Govt’s continued borrowing is a source of concern – Jesuit Centre

The Jesuit Centre for Theological Reflections (JCTR) says Government’s continued borrowing is a source of concern.
Commenting on government’s issuance of a second sovereign bond on the international capital market amounting to US$1 billion, JCTR Director Fr Leonard Chiti says it is worrying and at the time scaring that government has gone ahead to issue a second sovereign bond before it even pays back the first $750 million Eurobond.

Fr. Chiti says Zambians are not against borrowing but that what they are against is irresponsible borrowing.

He says the country runs the risk of falling back into the debt trap at level government is borrowing.

He adds that much as government has outlined where the money will go, it should also find other means of funding those sectors instead of resorting to borrowing.

Fr. Chiti says government should also ascertain whether the country is in a position to acquire more debts and be able to pay back.

Fr. Chiti has further urged the government to be transparent in their borrowing and make sure that what is being borrowed is used for the intended purposes.