The Centre for Trade Policy and Development (CTPD) has maintained that the Zambian government should immediately renegotiate its debt owed to China.
The Center says the people of Zambia are aware of other debt stock such as the Eurobonds but that information surrounding the Chinese loans is undefined.
CTPD Executive Director Isaac Mwaipopo says the people of Zambia are not aware of the terms and conditions of the loans acquired from China.
Mr. Mwaipopo says there is need for the government to be transparent on the Chinese loans so that the people are fully aware of how much is owed to China, the terms and conditions of the loans and when the country is expected to pay back the loans.
“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 is trying to come up with various initiatives aimed at dismantling the country’s debt stock such as the new tax system that has attracted the public outcry.
He points out that another initiative is the introduction of toll gates dotted around the country.
The CTPD Executive Director says the government should however ensure that the funds raked from these toll gates are put to good use such as the maintenance of the roads.

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