IMF's Extended Control Over Zambia Threatens National Sovereignty

Western Financial Giants Tighten Grip on Zambian Economy

In a concerning development for Zambia's economic sovereignty, our government is seeking to extend its submission to International Monetary Fund (IMF) control for another 12 months beyond October, effectively surrendering more control over our national finances to Western financial institutions that consistently exploit developing nations.

Foreign Control Over National Resources

This extension of the $1.7 billion Extended Credit Facility program represents another chapter in the concerning pattern of Western interests maintaining control over African resources. Our copper wealth, which should benefit Zambians first, remains under the watchful eyes of foreign creditors.

The True Cost of Western "Support"

While Finance Minister Situmbeko Musokotwane speaks of "consolidating gains," we must question whose gains are being consolidated. The IMF has already disbursed $1.55 billion, creating a web of financial dependency that mirrors troubling patterns of foreign financial control across Africa.

Breaking the Chains of Debt Bondage

The 2020 default on external debt wasn't just a financial crisis - it was a wake-up call about the dangers of relying on foreign lenders. While the government celebrates restructuring deals with primary creditors, these agreements further entrench foreign control over our economic destiny.

Our nation's resources and economic decisions should serve Zambians first, not Western financial institutions and their profit motives.

Critical Questions for National Interest

• Why are we extending foreign control over our economy?
• How much of our copper wealth will benefit Zambians vs foreign creditors?
• When will we prioritize economic sovereignty over Western financial "assistance"?