CSPR Warns Of Escalated Hunger In Zambia Due To Debt Distress
By Micheal Kaluba
The Civil Society for Poverty Reduction -CSPR- has warned that Zambia risks escalated hunger levels beyond the 2.4 million projected earlier this year, due to the effects of the debt distress.
CSPR is also of the view that this may be compounded by potential deficiencies in funding for the 2021 national budget that were projected through loans from the international community.
This is after the country defaulted on its interest debt payments of a $42.5 Million Eurobond repayment.
CSPR Resource Programs Coordinator Chimuka Nachibinga says the country will fall in the hunger trap next year unless the government quickly embarks on a robust strategy to prevent this and ensure the Food Reserve Agency –FRA- manages to purchase and reserve in excess of its targeted one million metric tons of maize.
Mr. Nachibinga says the alarming debt distress level Zambia is in, will affect many social sectors including agriculture and social protection among others, with the government expected to tax its citizens more to raise domestic revenue and further stifle people’s already inadequate disposable income.
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