What are the terms for the ‘Turkish bond’, Kabimba asks

Wynter Kabimba

The opposition Rainbow Party leader Wynter Kabimba has called upon the government to publicize the terms the Turkish private equity has given to refinance the US$750 million Eurobond.

Mr Kabimba says government should also tell the nation what is good about these terms compared to the original terms of the bond.

He is urging government to be equally transparent in explaining how the debt will be restructured and what the repayment period is.

In an interview with Q-News by telephone, Mr. Kabimba states that Zambians further need to know how high the interest rates for the Turkish bond will be compared to those of the European one.

He says these are the basic questions that need to be answered and not whether or not Zambia should use a Turkish private equity to refinance its first Eurobond.

Mr Kabimba adds that Zambia can still use a private Turkish company whether that Country’s economy is not doing well or whether its government is under US sanctions.