Sat, 17 Dec 2016 10:59:22 +0000 By BUUMBA CHIMBULU GOVERNMENT should heed the advice of the International Monetary Fund (IMF) not to refinance the US$2.8 billion Eurobonds at the moment until financial conditions on the market have eased, says Professor Oliver Saasa. Government issued a US$750 million Eurobond in 2012, followed by a US$1 billion issue in 2014 and another worth US$1.25 billion last year, mainly for infrastructure projects. The bonds will fall due in 2022, 2024 and 2025. Economist Prof Saasa explained in an interview that financial conditions on the market were currently quite tight which posed a challenge to Government because it was expensive to repay a debt. Prof Saasa explained that the global market was currently stressed especially after the United States of America raised its Federal Reserve’s rates by 0.25 percent. “That was a timely advice and I hope the minister (of Finance) will take it while monitoring happenings on the […]
