Zambia on track for debt restructuring next quarter -finance minister

Zambia is pushing hard to complete the restructuring of nearly $15 billion of external debt in the first quarter of 2023 and is “in active engagement” with its largest bilateral creditor China, Zambia’s finance minister said in an interview at the Reuters NEXT conference. Zambia defaulted on its sovereign debt in 2020 and the current

Deal to resolve Zambia’s debt crisis ‘LIKELY’

By Leo Komminoth June 16th 2022 • Zambia • Finance & Services Zambian officials met with an official committee of the country’s international creditors for the first time on Thursday as Lusaka seeks to negotiate a deal to restructure its unsustainable debt load and unlock IMF funding. The official creditor committee consists of members of

CHINA JOINS ZAMBIA’S CREDITORS TO RESOLVE OUR DEBT CRISIS- ZAMBIA’S STEPS TO ECONOMIC RECOVERY ARE VERY CLEAR!

By Alexander Nkosi The steps are very clear: 1) STEP 1: Restructure debt 2) STEP 2: Restructured debt means we lose less dollars to foreign debt service. This coupled with increased capital inflow that will come with IMF programme will strengthen kwacha and allow us to import inputs and machinery needed by SMEs for small

K1.46 BILLION RELEASED FOR PENSIONS & SOCIAL PROTECTION

The Ministry of #Finance and National Planning has released K1.46 billion for social protection programmes of which K1 Billion is targeted at paying pensioners under the Public Service #Pensions Fund (PSPF); K217 million for purchase of #drugs and #medical supplies; K169 million is for the Social Cash Transfer Programme; and, K40 million is for the

IMF Bailout: A sense of De Javu for the Citizens

By Yohane Mbeeya Moono Prior to the August 12 elections, the Patriotic Front led government was engaged in serious negotiations to have an economic bailout package from the International Monetary Fund. The then President Edgar Chagwa Lungu in November of 2020 launched the Economic Recovery Plan. The Patriotic Front and the United Party for National

Key Points In The National Budget Speech

By John Moono Mood among the citizenry of this country have had a feeling that Zambia deserves better and with the many natural resources endowed in the country, the nation should be more developed than the current state. The Zambian social media and political arena has been awash with comments and debates about the first

EXPECTED TAXATION PRONUONCEMENTS: In the National Budget 2022

By John Moono A tax is a compulsory contribution to state revenue, levied by the government on workers’ income and business profits, or added to the cost of some goods, services, and transactions. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect

Musokotwane tasks Banda reduce queues at tax paying points remove chaos at all borders

Finance and National Planning Minister Situmbeko Musokotwane today hosted a strategic visioning meeting for top management of the Zambia Revenue Authority (ZRA). The minister took the opportunity to congratulate newly appointed Commissioner General Dingani Bandaand urged him to oversee the establishment of a tax administration system which has the resilience to meet the aspirations of

Key points from New Finance Minister Presser

Highlights from New Finance Minister DR. MUSOKOTWANE press briefing.-Government will embark on an aggressive reform programmes. -Government aims to record a production of 3 million metric tonnes of copper per year, a move that will provide economic activities, more forex and employment. -Under the UPND government, money will be utilised carefully -The Budget is under