By BUUMBA CHIMBULUDEFAULTING on debt repayment is not the end of the world because Government is still negotiating with the bondholders, says Finance Minister, Bwalya Ng’andu.Dr Ng’andu said the decision by bondholders to reject Government’s request for a six months debt standstill did not meant it was the end of the world for Zambia.Government missed payment of US$42.5 million coupon on one of its dollar denominated sovereign bonds last week on Friday.Dr Ng’andu said however that Government was still negatiating with the bondholders. This minister said this during the 2020 Insurance Awards ceremony in Chongwe last Friday evening.“When we say we have defaulted, it does not mean the world has come to an end, we are still talking and we are sure at some point we will be able to get some reasonable response,” he said.Dr Ng’andu stressed that paying bondholders after requesting for a debt standstill would have affected Zambia’s credibility.Meanwhile, Dr Ng’andu encouraged […]
IT’S NOT THE END FOR ZAMBIA – NG’ANDU
