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Monday, October 11, 2021

Zambia secures debt relief

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With Zambia’s external debt standing at US$14.48 billion, Government has signed a Debt Service Suspension Initiative (DSSI) with a number of lenders to avert defaults and allocate more funding to health and education.

Minister of Finance Situmbeko Musokotwane put the country’s external debt at US$14.48 billion, which includes US$1.57 billion by parastatals that Government guaranteed to creditors.

Zambia has been dating the International Monetary Fund (IMF) for a refinancing facility since 2016 when the country began seeking solutions to the widening debt and fiscal deficit, coupled with poor economic performance.

In Other News – WATCH: CCTV footage of the Kasama toll gate robbery where 2 female officers were raped

This is part of CCTV footage on the robbery at a toll gate in Kasama. The criminals shot dead a police officer and allegedly raped the two female officers. WATCH THE VIDEO HERE…

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