National Debt and Loan Transparency Survey August 2019 Kangwa Muyunda, Programme Officer Consumer Unity and Trust Society Taj Pamodzi 30 August 0
The Survey • Survey about how much Zambians know about the country’s debt situation • We asked simple questions about the country’s debt position, details about the country’s borrowing and what they intend to use the money for • “ There is no shortage of technical solutions ” • How much do the Zambian people know about this? 1
The Research National Survey of Zambian adults (18+) Fielding dates: 5-28 July 2019 Fully representative by location, age, gender, education, urban/rural 2043 Respondents (MOE +/-2.2%) • 415 Lusaka Respondents (MOE +/- 4.8 %) 319 Copperbelt Respondents (MOE +/- 5.5 %) • 664 EAST Region Respondents (MOE +/- 3.8 %) • -- Eastern, Luapula, Muchinga, Northern • 454 WEST Region Respondents (MOE +/- 4.6%) -- North Western, Southern, Western
Low awareness on debt specifics, but high concerns As you may know, the Zambia government is spending Would you say you are very concerned about that national more money than it has. As a result, the country's debt debt, somewhat concerned, a little concerned, or not at all is four times more than it was in 2015, reaching about concerned about that national debt? 210 billion kwacha, and the government now spends one in every four kwacha to pay back the debt. How 100 ∆ October ‘18 much have you seen or heard about this national debt -- a great deal, some, just a little or nothing at all? -2 +3 80 A great deal/some Just a little/none 73 Don't know/Refused 60 6 40 40 20 24 0 54 Very/somewhat A little/not at all concerned concerned 3
Most say borrowing improves livelihood, except West Now I'm going to read you some pairs of statements, and for each one, I want you to tell me which choice comes closer to your point of view. Here is the first/next pair of statements. When Zambia borrows money, it means the When Zambia borrows money, the things they country can pay for projects like roads, schools, spend the money on do not make my life health centers and airports, which make my life better. better. 80 60 61 56 54 52 50 40 45 42 40 40 32 20 0 Total Lusaka Copperbelt East West 4
But majority also says debt hurts them Now I'm going to read you some pairs of statements, and for each one, I want you to tell me which choice comes closer to your point of view. Here is the first/next pair of statements. The country's debt is too big and negatively affects I haven't noticed any negative impact from the me. amount of money Zambia has borrowed. 80 70 67 60 64 64 56 40 35 30 29 26 20 22 0 Total Lusaka Copperbelt East West 5
And majority say borrowing should be reduced The government We should begin We cannot reduce The government needs to reduce reducing borrowing borrowing now cannot reduce borrowing so less now so that it does because the borrowing now money can be spent not hurt the government needs to because there is still on repaying the debt economy, even if it keep spending, even a lot of infrastructure and more money can means less money if the debt is going to that needs to be built, be spent on drugs, is available for the hurt the economy. like schools, hospitals textbooks, and social government to and roads. cash transfers. spend. 80 75 60 65 40 30 20 21 0 6
Biggest debt concerns: assets sale & kwacha devaluation Now, I am going to read you a list of concerns that some people have about the impact of the country's national debt. Please tell me which ONE of these concerns you the most. It is okay to say you don't know, or that debt does not concern you. The government will have to sell or hand over some of Zambia's infrastructure and 23 assets to pay the debt The value of the kwacha will decrease so 21 prices will go up There will be higher taxes and fees 17 There will be less money for government to spend on services, like schools and 15 hospitals The government will have less money to spend on subsidies for things like 12 electricity and maize to keep costs low 0 10 20 30 7
Majority say loans for development not spent well Now I'm going to read you some pairs of statements, and for each one, I want you to tell me which choice comes closer to your point of view. Here is the first/next pair of statements. I believe the national government knows how to I do not believe the national government spend the funds it receives from loans to develop knows how to spend the funds it receives from the country. loans to develop the country. 80 60 63 63 52 52 50 40 43 40 40 29 28 20 0 Total Lusaka Copperbelt East West 8
Majority do not trust government will reduce the debt Now I'm going to read you some pairs of statements, and for each one, I want you to tell me which choice comes closer to your point of view. Here is the first/next pair of statements. The government is trying to manage the debt by The government says it wants to reduce the reducing borrowing. debt, but I don't trust that it will. 80 60 64 57 56 54 46 46 40 39 37 35 29 20 0 Total Lusaka Copperbelt East West 9
Perception of transparency for borrowing In your opinion, how open and transparent would you say the government is about its borrowing, what they intend to use the funds for, or the costs of repaying the loan? Would you say the government is very open, somewhat open, just a little open, or not open at all? It is okay to say you do not know. Very/somewhat open A little/not at all open 80 68 67 60 63 61 59 40 29 25 24 24 20 18 0 Total Lusaka Copperbelt East West 10
Concern about lack of transparency for borrowing As you may know, the government is not required to reveal details of its borrowing, what they intend to use the funds for, or the costs of repaying the loan. Would you say you are very concerned about this, somewhat concerned, a little concerned, or not at all concerned about this? Very/somewhat concerned A little/not at all concerned 80 72 70 69 67 66 60 40 30 28 28 27 25 20 0 Total Lusaka Copperbelt East West 11
Majority agree parliament should approve all loans Some people think parliament should approve all loans that the government makes to ensure the loans are good for the country. Do you agree or disagree that parliament should approve all loans that the government makes? Agree strongly Agree somewhat Disagree strongly Disagree somewhat 58 60 44 40 36 26 20 0 12
Majority approval from all regions for Assembly oversight Some people think parliament should approve all loans that the government makes to ensure the loans are good for the country. Do you agree or disagree that parliament should approve all loans that the government makes? Agree Disagree 60 60 59 58 57 53 44 40 38 36 36 32 20 0 Total Lusaka Copperbelt East West 13
Thank You 14
Recommend
More recommend
