ZAMBIAS DIPLOMATIC RATING NOSEDIVES! On 2 November 2014, in an article entitled GIVE THE PRESIDENT A DIGNIFIED SEND OFF I urged Dr. Scott to arrest the confusion and the utter incompetency characterising the handling of the funeral programme of President Sata (MHSRIP). I also advised that Cabinet needed to resume meetings forthwith and put an ad-hock committee in place! This I said was important to safeguard the reputation of our ability to manage national affairs competently. I further warned that a disorganized and incompetent bureaucracy if noticed by international observers especially Rating Agencies could have far reaching implications! He did not heed my advice. On 5 November, there was a screaming headline on the front page of the Daily Nation: Zambias diplomatic rating nosedives! I hope the credit rating stays the same though we are certainly making it on the negative outlook list. Risk premium will certainly go up and so will be the pricing of debt instruments. In short cost of borrowing will go up. The general public will pick up the tub eventually and thats what upsets me! Cry my beloved country.....
Posted on: Thu, 06 Nov 2014 09:35:35 +0000
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