NOT ALL HOPE IS LOST: GOVT PROMISES TO HONOR DEBT OBLIGATIONS

Lusaka ~ Fri, 14 Nov 2020

By Brightwell Chabusha

Vice-President Inonge Wina has said Zambia will honor its debt obligations.

And finance minister Dr Bwalya Ngándu has disclosed that the country’s bondholders have rejected its request for debt relief but government is not giving up its efforts to find a consensual and collaborative resolution to debt sustainability issues.

Vice President Wina said in parliament today that despite the current situation regarding debt, the government remains committed to honor its obligations.

And Dr Ng’andu, in a statement, said the country will continue to engage in constructive dialogue adding that it will remain resolute to adhere to the principle of transparency in its engagement.

“Further, we are confident that as government continues to share information with all creditors, including the committee’s advisors, there will be an appreciation that agreeing to consensual standstills or accruing arrears are the only options available to the country while we design a plan put our debt on a sustainable trajectory,” he said.

Bondholders have today rejected the country’s request for debt relief.