Sun, 04 Feb 2018 11:53:16 +0000 By BUUMBA CHIMBULU Minister of Finance, Felix Mutati has assured the nation that Government would not default on its debt repayments as it had the capacity to pay back the contracted loans. Mr Mutati said government is optimistic that it will not default on its loan repayments following measures which have been put in place to reduce the pace of debt accumulation as well as improving its management. As of December 31 2017, Government’s external debt stood at US$7.9 billion from US$ 6.9 billion recorded by the end of 2016. Mr. Mutati said Government would not be the first generation to default on its debt bearing in mind the risks that came with the development. “Since independence, this country has never defaulted and it is not within our DNA to be the generation that creates opportunity for default, we will make sure that our management capability of […]
