A Business and Financial Analyst has encouraged the government to cancel all pipeline loans due to the prevailing economic situation in Zambia.
Blessings Kafwanka has told Money FM News that the government will also do well to ensure that the austerity measures that were put in place are implemented fully.
Mr. Kafwanka says the austerity measures are a good initiative that can help the country in getting out of debt.
He said the government should further ensure that all projects that are below 80 percent completion are halted until such a time when the country is financially stable.
“There was a pronouncement that came from the government that it will not embark on new projects but we see new projects, even those that are less than 80 percent completion mark are being undertaken. This is against the austerity measures that were announced by the government,” he said.
He believed that a thorough implementation of the austerity measures will help the country sort out some of the economic pressures the copper producing country is facing.
He said this might further help Zambia to address the challenge of foreign currency reserves which he said are dwindling.