Zambia’s new president, Hakainde Hichilema, says he inherited an “empty” treasury, from his defeated rival and former president Edgar Lungu.
The president revealed in an interview on Wednesday that “horrifying” amounts of money had been stolen and people are still trying to make last-minute movements of unauthorized funds.
the new president described the treasury as “literally empty”.
He added that the “hole is much bigger than we expected” and the debt situation had not been “fully disclosed” by the former government.
Although Hichilema did not name any officials, he said the debt situation had not been “fully disclosed” by the former government.
He added that his government would show “zero tolerance” towards corruption, and would get to the bottom of what he called the illicit movement of funds very soon.
For the first time since 1998, Zambia plunged into a recession last year. It also defaulted on a debt repayment.