Debt Restructuring To Be Concluded By June 2022, Says Finance Minister

Finance Minister Situmbeko Musokotwane expects debt restructuring negotiations between the government and Zambia’s creditors to be concluded by June 2022.

Dr. Musokotwane says the country will begin accessing part of the recently negotiated International Monetary Fund (IMF) $1.4 billion package upon conclusion of the negotiations with creditors.

The Finance Minister has projected that the country will subsequently enjoy annual growth rates of above 6 percent within the next 5 to 6 years.

Dr. Musokotwane was speaking at an interactive forum with journalists at his office in Lusaka yesterday.

He stated his conviction that the UPND administration is taking all the right steps towards resuscitating the economy and, crucially, improving the welfare of the people.

Dr. Musokotwane also took the opportunity to defend Zambia’s decision to agree to IMF economic programme, saying it is the best path to economic recovery from the unsustainable debt the country was saddled with from the previous government.

Meanwhile, Information and Media Minister Chushi Kasanda said the UPND administration is committed to fulfilling its campaign promises.

Ms. Kasanda urged the media to bear witness the strides being made by the new dawn administration, and to be objective in its appraisal of her office.