The ongoing negotiations between creditors are to blame for the delays in Zambia receiving a debt relief, according to Finance Minister SITUMBEKO MUSOKOTWANE.
According to Dr. MUSOKOTWANE, the government is in contact with bondholders and creditors to discuss the type of debt relief that Zambia should receive as well as which bills should be put on hold.
Nevertheless, he has voiced confidence that the nation will obtain a debt relief by the end of March.
Speaking to the media in Lusaka today, the finance minister stated that although the government recognizes the high cost of living, it is taking action to reduce it.
He claimed that the government has reduced the cost of mealie meal as one of the steps it has taken to alleviate the expense of living.
Dr. MUSOKOTWANE added that the government is tackling the expense of living in two ways: by lowering inflation and encouraging the creation of jobs by offering incentives to different sectors.
The International Monetary Fund (IMF), according to Information and Media Minister Chushi Kasanda, has modified how it operates over the years and has been able to provide Zambia a chance to express its requirements.
Zambians, according to Ms. KASANDA, come from a poor culture where they are accustomed to receiving money easily rather than having to work for it.
She advised people to start businesses and cooperatives to provide goods and services to the government.
