Govt Pays $130 Million For Debt

Zambian Minister of Finance and National Planning, Situmbeko Musokotwane (L-R) answers questions from the media April 25, 2009 during the IMF/World Bank Spring Meetings as Tanzanian Minister of Finance Mustafa Mkulo, (2nd L), Minister of Economy & Finance Charles Koffi Diby (2nd R) for the Ivory Coast and Ismaila Dieng (R) from the IMF External Relations listen at the IMF Headquarters in Washington, DC. IMF Photo by Robert Giroux

As of December 2022, the government had paid 130.7 million dollars in debt service.

The government has reportedly kept in touch with Zambia’s foreign creditors in an effort to restructure the nation’s unmanageable debt, according to Finance Minister SITUMBEKO MUSOKOTWANE.

According to him, this is being done in accordance with the G20 Common Framework, under which the Official Creditors Committee was established in order to find a long-term solution to Zambia’s debt.

In a ministerial statement to Parliament on the state of the economy as of January 2023, the finance minister made this comment.