By ADRIAN MWANZATHE Treasury has released K255.3 million to clear 17 banks and micro-finance institutions as a way of servicing the outstanding loanscivil servants have accrued and to signify the start of the ongoing debt restructuring.Government released K200 million as third-party payments to micro-finance institutions for March and April 2021 in respect of civil servants’ salary-backed loans, and a further K55.3 million targeted at clearing third-party obligations to commercial banks up to June 2021.This development was announced when Accountant General KennedyMusonda, Permanent Secretary at Public Service Management Division (PSMD) Boniface Chimbwali and Permanent Secretary for Information and Broadcasting Services Amos Mulupenga held a virtual meeting with commercial banks and other financial institutions to liaise on the implementation of the civil service debt swap initiative.Zambia National Union of Teachers (ZNUT) general secretary Newman Bubala represented the 15 sector unions in the country.Mr Musonda said the data reconciliation exercise for the civil service debt swap initiative would […]
DEBT SWAP BONANZA
