GOVT URGED TO UPDATE THE NATION ON STATUS OF SINKING FUND
By Balewa Zyuulu
The Center for Trade Policy and Development-CTPD- is appealing to government to update the nation on the status of the sinking fund.
Government approved the establishment of a loan sinking fund back in 2015 for the purposes of paying back the two Eurobonds successfully issued in 2012 and 2014 of $750 million and $1 billion respectively.
CTPD Programmes Coordinator Natalie Kaunda says operationalizing the sinking fund is critical for the country that is grappling with high debt levels and the escalating cost of living.
Ms. Kaunda has told Phoenix News in an interview that once fully operational, the sinking fund can be key to Zambia’s debt servicing programme.
And commenting on the general economic outlook for the first quarter of 2022, Ms Kaunda says the debt management steps put in place in finalizing the loans and guarantees act is commendable.
She explains that putting parliamentary oversight on debt contraction is plausible at the same time there is need to strengthen further the current debt management strategy.
PHOENIX NEWS
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