The Botswana Patriotic Front (BPF) has, through its Publicity Secretary- Lawrence Ookeditse, condemned the government for considering to borrow money from the International Monetary Fund (IMF).
According to BPF, the money will not benefit the country but the select few through corruption. As such, the party is of the view that the government should not borrow the money in the name of the country.
The reports has it that the Botswana Government is negotiating a Four billion pula (P4 billion/$400 million) facility with the IMF and World Bank. The said money is set to help avert a looming economic catastrophe.
“Ordinarily this would not be a bad decision. However, given the gross mismanagement we are witnessing under this BDP regime, the BPF strongly opposes such borrowing. This government spends money like a just paid drunken sailor gotten to shore; the loan will be squandered, and the incoming government in 2024 will be saddled with debts. What is 4 billion pula to them if they squandered more than 15 billion pula of our foreign reserves in just one year? This 4-billion-pula loan will also find its way into the pockets of the regimeβs handlers as has a lot of the covid-19 budget.” Ookeditse charged.
The reported negotiations to borrow P4 million comes after the Government Investment Account (GIA) declined by close to Seventy percent (70%) last year. According to the Minister of Finance and Economic Development- Honourable Dr. Thapelo Matsheka, the GIA declined from Seventeen point eight billion pula (P17.8 billion) in December 2019 to Five point six billion pula (P5.6 billion) in November 2020. This translate to a decline of Twelve point two billion pula (P12.2 billion) in a period of Eleven (11) months.
“When the end is near, corrupt dictators and kleptocrats borrow money and line their own pockets, leaving behind huge debts for incoming governments”
Lawrence Ookeditse, BPF Publicity Secretary
Ookeditse says the aim of those in government is to enrich themselves at the expense of the government, and leave the country broke when they lose the state power. Ookeditse says some are already acquiring instant wealth which they did not have before they got into power.
“We do not think it wise to pass on problems to the next generations of our people, and to future governments. We oppose this loan and ask that the international community take note of this recklessness and do their best to not aid the crusade to impoverish and indebt our country.” Ookeditse said.
“We cannot trust this government with money, and they must not borrow money in the name of our country. Already, this same government says it loses 37 pula out of every 100 pula to corruption. We should then expect that out of this P4 billion they are borrowing, 37 percent will be lost to corruption.”
Lawrwnce Ookeditse, BPF Publicity Secretary
