Stop the IMF deal! No more foreign financial debts for Zambia!

  • by: Zambia Great Again
  • recipient: Government of Zambia, President Edgar Lungu, Minister of Finance Felix Mutati

For a greater chance at spreading this most important message to all Zambians, we have decided to move this petition on our website - www.zambiagreatagain.org. We ask you, our fellow brothers and sisters, to sign the new petition with the same enthusiasm as you did with the first one, for it is of great importance that we raise our voices in unison and demand no more foreign financial debts for Zambia!
The task at hand is simple, yet of a paramount urgency - don't let Zambia down

Next month, the Zambian Government will meet with the IMF representatives in order to broker a new loan. The IMF bailout - that could exceed $1.2 billion - is supposedly needed in order to shore up the nation's budget and top up foreign reserves after a slump in copper prices last year.

This new IMF deal will essentially ruin the already fragile backbone of the Zambian economy - government debt is slightly over US $10 billion, without adding private external debt - and it will impose further hardships for the regular Zambian citizens, who will have to pay higher electricity and fuel prices, without counting the massive interest rates the primary loan will bring, rates that will have to be paid from the taxpayers themselves.

When you borrow at capital markets as a nation, you borrow at a very high rate. Is our country ready to amortize these loans? We have seen countless attempts of neo-colonial companies that exploit our most precious resources, whilst giving nothing in return to the little man.

We have seen tax breaks for multinationals that impose their deals without the approval of the people, nor the sense of actually helping out a country that provides them with cheap labor force and ample enterprise operations. We need to stop this right away!

We have a right, as the people of Zambia, to demand the immediate rejection of the new IMF deal. We have a right to put an end to these unnecessary and time-consuming bureaucratic treaties that will further impoverish the regular people by making them pay more for electricity, fuel prices and even taxes.

Sign this urgent petition today! Demand the immediate stop of any ongoing or future deals with the International Monetary Fund (IMF)! Make your voice be heard and reinforce the idea that the country is run by its people first and foremost, not by foreign actors hell-bent on generating profit at the expense of people like you and me!

Update #17 years ago
For a greater chance at spreading this most important message to all Zambians, we have decided to move this petition on our website - www.zambiagreatagain.org. We ask you, our fellow brothers and sisters, to sign the new petition with the same enthusiasm as you did with the first one, for it is of great importance that we raise our voices in unison and demand no more foreign financial debts for Zambia!
The task at hand is simple, yet of a paramount urgency – don’t let Zambia down
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