By Agness Changala
Citizens First President Harry Kalaba has told Secretary to Treasury Felix Nkulukusa that he should not be secretive about telling Zambians that the government has failed to negotiate with the bond holders, saying they were busy touting their ‘credibility’ when the whole process was starting.
Speaking to Daily Revelation, Kalaba said the Ministry of Finance is a public office and what the government is discussing with bond holders is in the interest of Zambians, as opposed to the issues of “restrictions” that Nkulukusa was talking about.
Kalaba asked what was wrong with the government telling the nation that there was a stalemate and why it had reached a stalemate.
He wondered what was there to conceal saying the government should not think opposition leaders don’t understand these things.
“That’s a public office and what the government is discussing with the bond holders is in the interest of the nation. What is wrong with just telling us that oh! We have reached a stalemate and why we have reached stalemate is because of ABCD, is there anything to conceal there? He asked. “Because when they were going there, they were busy saying because of the credibility, because of this and that we have managed to clinch now that they have failed to clinch anything, they are saying that’s not the way the market plays. Which market? They should not think that we don’t understand these things.”
Kalaba urged the government to just give the Zambians an appraisal.
“Let them just give the Zambian people an appraisal. Them not clinching that deal… It is important for Zambians to understand the options before them,” said Kalaba.
Nkulukusa told Daily Revelation that bondholders cannot say anything during the restriction and the government cannot say anything, adding that this is the way the market plays.
He explained that when parties go into restriction, no one says anything when they fail to reach an agreement.
“Let me explain how the bond market operates. We go into a restriction no one says anything when we fail to reach an agreement. We have to go to the market so that everyone knows what is happening. And we did go to the market so if Mr. Kalaba wants us to say if we go into a restriction he wants us to be talking so that we fail, that is not the way it operates,” he said. “We go into a restriction we discuss, when we reach an agreement we announce, when we don’t reach an agreement we announce. Bond holders cannot say anything during the restriction and the government cannot say anything that’s how the market plays.”
Nkulukusa was responding to Kalaba who said in the spirit of transparency, the government should issue a statement and advise the nation on what the status of the bond holders was and what available options are there for Zambia, seeing that there was a standoff with bond holders.
