By NATION REPORTER
THE Centre for Trade Policy and Development (CTPD) has called for the acceleration and finalisation of discussions on restructuring Zambia’s private debt including Eurobonds.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”4,5,6″ ihc_mb_template=”2″ ]
Speaking during a press briefing in Lusaka yesterday, acting executive director Natalie Kaunda said while the country has reached an in-principal debt restructuring agreement with bilateral creditors covering USD$6.3 billion, it was important expedite the debt restructuring the country’s private debt and Eurobonds.
Ms Kaunda also said there was need for Government to ensure strict adherence to the annual borrowing plan of 2024.
She said CTPD noted that while the Public Debt Management act no.15 of 2022, provides for the establishment of a Sinking Fund, its operationalization in the 2024 national budget remains unclear.
Ms Kaunda said although the budgetary allocation for dismantling arrears remains unchanged at k6.9 billion, it was encouraging to note government’s commitment towards unlocking liquidity in the economy which is key in promoting the performance of the private sector.
Meanwhile Ms. Kaunda said CTPD was delighted with the substantial increase in the budget allocation for geological mapping, soaring from k4.3 million in 2023 to k160 million in 2024 because it aligns well with their critical recommendations for the revival of the sector.
“It signifies the government’s recognition of the pivotal role that geological mapping plays in assessing the quantity and quality of mineral reserves. Once realized, this investment has the potential to empower the government to engage in well-informed negotiations with prospective investors, thus bolstering the mining sector’s growth prospects,” she said.
She said the budget also mentions the intent to operationalize the mineral regulation commission, a pivotal component for effective mining sector regulation.
[/ihc-hide-content]
