By BUUMBA CHIMBULUGOVERNMENT has requested non-official creditors to form a London club for easy sharing of information.Additionally, Zambia will soon give an update on the development of each creditor in order to enhance transparency.Updates on what is happening with each creditor regarding debt management will be shared with creditors while part of it will be posted on the Ministry of Finance website.This is according to the Ministry of finance Permanent Secretary for Economic Management and Finance, Mukuli Chikuba.Mr Chikuba explained in an interview that Government was currently in its second phase of debt restructuring process which involves a financial advisor, Lazard frères.He said the second aspect of the process involves Government applying to the common framework as well as doing a Debt Sustainability Analysis (DSA).Zambia’s external debt currently stands at US$12.75 billion.“We working with Lazard within this space as the legal advisor, we will be sharing more information with creditors post what we are doing […]
ZAMBIA ENHANCES TRANSPARENCY WITH CREDITORS
