Hamududu emphasises necessity of debt restructuring deal

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OPPOSITION president of the Party for National Unity and Progress (PNUP), Highvie Hamududu has defended the debt restructuring deal, stating that it is essential for addressing the country’s debt burden.

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Hamududu told off critics who were saying that the debt restructuring deal was for the future generations to repay.

In an interview on Diamond TV, Hamududu said there was no other way to clear the debt than restructuring it.

Hamududu highlighted that the debt restructuring deal carries valuable lessons for the nation to avoid falling into unsustainable debt in the future.

He emphasised the importance of government efforts to boost economic productivity.

The opposition leader urged the government to curtail unnecessary expenses, particularly excessive international travel by ministers.

“Reduce avoidable expenditures such as excessive traveling. With embassies and internet, do we need ministers to travel so much?” questioned Hamududu.

Reflecting on the significance of the debt restructuring agreement, Hamududu expressed gratitude for its attainment, especially considering the ongoing drought affecting the economy.

Regarding the country’s ongoing economic challenges despite the suspension of debt servicing, Hamududu attributed the issue to a consumptive national budget, lacking a focus on investment.

Commending the government’s efforts to revise the national budget, Hamududu expressed hope that future budget allocations would prioritise investments for economic growth.

“The debt issue has been a problem for our country. Once bitten, twice shy,” stated Hamududu.

By Catherine Pule

Kalemba, March 29, 2024

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