FINANCE MINISTER ASSURES OF SPEEDY DOMESTIC DEBT RESOLUTION

Finance Minister Situmbeko Musokotwane says following cabinet approval of a strategy on the dismantling of domestic arrears and the successful debt restructuring deal, government will expedite the dismantling of domestic debt arrears.

In an interview with Phoenix News, Dr. Musokotwane says the government is keen on resolving outstanding arrears over a five-year period, by allocating more resources in the upcoming budget to ensure swift clearance.

Dr. Musokotwane explains that the k5 billion allocated in this year’s budget for domestic debt payments proved insufficient due to the substantial sums involved.

He says although it has been time consuming due to sufficient funds available, with the cabinet approval of a strategy on the dismantling of domestic arrears and the successful debt restructuring deal, there is renewed focus and determination to tackle the issue comprehensively.

Further, the Finance Minister says the government has been diligent in addressing domestic debt accrued through treasury bills.