GOVERNMENT must arrange a one- on-one meeting with the Chinese authorities in its quest for a debt restructuring process since that country has been singled out as delaying the procedure, an Accountants Institute has suggested.
The Zambia Institute of Chartered Accountants (ZiCA) has also urged Government to start considering having a second plan in case the debt restructuring process takes longer than planned.
ZiCA president, Cecilia Zimba stated that the institute took keen interest in the ongoing discussions and developments on the country’s debt restructuring process.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”4,5,6″ ihc_mb_template=”2″ ]
ZICA, she said, joined all the concerned parties and partners who had expressed deep concern about the debt restructuring stalemate.
“As devoted citizens, we would like the country to come out of the negative tag attributed to its default status since 2020, so that the Government can properly execute its economic recovery plan,” she said at the ZiCA 2023 first quarter media briefing on various national matters.
Ms Zimba suggested that the Zambian authorities should arrange a one-on-one meeting with the Chinese authorities since China had been singled out as delaying the process.
She pointed out that Zambia already enjoyed a cordial relationship with China and a visit would be worthwhile to strengthen our relationships and speed up the debt restructuring process.
She also urged Finance and National Planning Minister, Situmbeko Musokotwane, to keep pushing and start considering having a plan B in case the debt restructuring process took longer than planned.
“We believe that the economic recovery plan has many other facets and key areas apart from debt restructuring and debt sustainability.
“It would be good to heighten efforts and focus on other areas of the plan that would give us quick wins so that the economic recovery is not derailed,” Ms Zimba said.
[/ihc-hide-content]
