Mon, 25 Sep 2017 14:34:02 +0000 By Buumba Chimbulu GOVERNMENT has announced that its external debt service payments in the first half of 2017 amounted to US$275.59 million, an indication that it is servicing its Eurobonds, among other arrears. Secretary to the Treasury, Fredson Yamba, said Government’s external debt stock as at end of June 2017 increased to US$7, 477.53 million from US$6, 946.71 and 946.71 million at end December 2016, an increase of 7.6 percent. Mr. Yamba explained that the largest increase of 15.7 percent was for export and suppliers credit, which was contracted mainly for infrastructure projects, including roads. “Under the multilateral debt category, the largest increase was concessional borrowing from the World Bank. The stock of commercial borrowing also increased by 5.8 percent and was earmarked to finance the budget while bilateral debt largely remained flat,” Mr. Yamba said. He, however, said Government had so far spent US$275.59 million on the external […]
