By BUUMBA CHIMBULUTHERE is no cash in the treasury to service the US$750 million Eurobond which is falling due next year in September, according to the Finance and National Planning Minister, Dr Situmbeko Musokotwane.The minister has however indicated that there is a provision in the 2022 national budget to refinance it should Zambia’s creditors reach positive negotiations with the government.Dr Musokotwane explained that part of the US$2.4 billion appearing as external borrowing in the 2022 national budget may be used to refinance the Eurobond.He said this yesterday in Lusaka at the Zambia Institute for Policy Analysis and Research (ZIPAR) analysis of the 2022 national budget meeting.“The US$2.4 billion appearing as external borrowing, out of that there is US$700 million, there is a provision there for paying off the Eurobonds maturing next year.He also said part of the money which would be borrowed would be spent on completion of projects left by the previous government which […]
‘NO MONEY TO SERVICE US$750M EUROBOND’
