GOVT NEEDS TO FIND A LASTING SOLUTION TO DEBT – JCTR

Lusaka~Sat,14 Nov 2020

By Brightwell Chabusha

Following the rejection by External bondholders to give Zambia a debt repayment holiday, the Jesuit Centre for Theological Reflection-JCTC says government needs to find a lasting solution.

JCTR Executive Director Fr Alex Muyebe says the implication of the refusal is that government has to pay $42.5 million immedietely.

He notes that the Minister of Finance has assured the nation’s commitment not to default on it’s sovereign debt.

“JCTR’s concern is with the effects of debt burden and debt default on the ordinary citizens, especially the poor, the marginalized and the vulnerable,” he observed.