The Zambian Youths in the fight against Corruption (ZYAFAC) notes with concern that the negative sentiments around important economic matters which are largely speculative have the potency to inflict injury on the economy arising from a reduction in the flow of investment.

The organization says it has taken note of the negative and positive positions made by different stakeholders regards some important decisions made by the government in the management of the economy such as the intended refinancing of the Euro Bond, some austerity measures and the debt levels in the country.

ZYAFAC Executive Director Maurice Malambo tells Money FM News that his organization also acknowledges the fact that the citizenry has the moral right and duty to make audit of national governance, however, further advising that it is important to do so in a non-malicious manner and also provide alternatives.

Mr. Malambo says it is important and progressive for Zambians to understand that in Zambia currently there is no debt crisis neither debt distress, what is being implemented by government are measures to prevent debt crisis.

“Whereas the intended refinancing of the Euro Bond by government is a normal business practice in the management of debt, as such, it does not mean failure to pay back,” said Mr. Malambo.

He has emphasized that the austerity measures are a temporal undertaking in economic language referred to as moratorium on specific areas of expenditure or on the increase in expenditure in order to generate some savings and direct the same to areas that are in acute need or are of urgent necessity at the time.

He states that, on the score of debt, citizens must understand that there is no country in the world that does not have debt, advanced economies included.

“The underlining question regards debt, instead ought to be; what is the purpose of acquiring debt, meaning, have we acquired debt for consumption or have we acquired debt in order to building the capacity to produce and grow the economy,” he questions.

Mr. Malambo has guided that misguided or careless talk around the economy, purely out of malice and ill will against the good intentions of government of the day can dilute both local and foreign investor confidence, consequently, fail to meet actual and projected social-economic bench marks as a national.