Home Covid-19 Updates K8bn COVID bonds for economic stimulus to be issued

K8bn COVID bonds for economic stimulus to be issued

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Covid-19 Cases in Zambia

Government plans to issue a K8 billion Covid bond whose proceeds would go towards paying suppliers, retirees and contractors.

At yesterday’s cabinet meeting held at Mulungushi International Conference Centre, Cabinet approved in principle the establishment of a K8 billion economic stimulus package that will be financed through the issuance of the COVID-19 Bond.

Cabinet sources say the allocation will go towards payment to retirees, contractors and suppliers.Corona targetting 8% more men than women in SA

Cabinet resolved that it is necessary to provide an economic stimulus through the issuance of the COVID-19 Bond in order to improve the liquidity levels in the economy that have reduced due to the Coronavirus pandemic.

COVID bond will be additional intervention from the April central bank stimulus package and May benchmark interest rate cut to boost growth.