CTPD urges govt to re-negotiate Chinese debt

By Staff Reporter

The Centre for Trade Policy and Development (CTPD) has maintained that the Zambian government should immediately renegotiate its debt owed to China.

CTPD Executive Director Isaac Mwaipopo said the people of Zambia needed to know details of the Chinese debt just like other loans obtained from other bilateral and multilateral lenders.

Mwaipopo demanded for transparency from government over the terms and conditions and details of expected repayments.

“I think at this point it is important that we as a country relook at the debt stock and see if we can restructure them. There is also inadequate information as to how much we owe like the Chinese government for example, so that the people are aware of what is happening,” he said.

He has also observed that the government was trying to come up with various initiatives aimed at dismantling the country’s debt stock such as the new tax system that had attracted the public outcry.

Mwaipopo stated the government should however ensure that the funds raked from initiatives such as toll gates are put to good use such as the maintenance of the roads.