Zambian economist Trevor Hambai has reiterated the need to remove subsidies from electricity and fuel, in order to sought out the unsustainable debt.
Speaking in an exclusive interview with one love radio news on Wednesday, Mr. Hambai said it is necessary to pursue the debt repayment strategy by the government through the international monetary fund IMF program if the country is too sought out the debt it has.
He said it is a fact that the cost of living will be higher, but has advised that the general public should sacrifice for a short time so as to balance and manage things in the long term as the new dawn government is trying to re-finance and solve the issue of high debt.
“Yes from the Zambian perspective the cost of living will be higher, there is no question about it, but I think this is a sacrifice we need to make in the short term so that in the long term we will be able to recover from this and then things can get to a point where they are balanced and citizens can be able to afford the things to buy because the economy would have grown”, he said.
