Green Party President Peter Sinkamba doubts that the Turkish Eurobond bailout is not likely to take-off due to deteriorating trade war between Turkey and the United States.
And the Green Party Leader says the Zambian Government should just as well forget about the Turkish bailout due to rapid decay in the Turkish economy.
Mr. Sinkamba contends that at the moment, the Turkish Eurobond bailout is a non-starter adding that the economy of that country has gotten into serious shambles following President Trump’s doubling of trade tariffs on aluminum and steel.
He has since advised the Zambian Government to come to terms with realities by seriously considering other options to sort out the Eurobond gig-saw puzzle.
He has cited the recent move by the Turkish government to slash its economic growth forecast for this year from 5.5% to 4% as proof that things are deteriorating in Turkey.
Mr. Sinkamba says if economic events in Turkey continue on this trajectory, then the Zambian Government should forget about the anticipated Eurobond bailout.
The Green Party President contends that the currency intervention measures will definitely make any Eurobond bailout from Turkey to be way too expensive for Zambia to contemplate.