Dear Editor, IT is very easy to condemn the debt swap especially when you are not a beneficiary.What is funny is that those that are condemning the debt swap are the ones in the forefront preaching on how life is difficult.The debt swap should not come as a surprise because such negotiations started last year when Covid hit! It’s just that we were either busy politicking or commenting on other scandals but Cabinet Office announced this intervention last year!The President of Zambia last week highlighted the various interventions he put in place to cushion the economy from the negative effects of Covid-19 as follows:– Created the K10bn medium term financing facility to help companies refinance loans gotten before Covid. Loan repayment have favourable conditions with a moratorium of one year on repayments. This move prevented a banking crisis caused by liquidity problems arising from massive loan defaults under Covid conditions. This move was some form of […]
COVID INTERVENTIONS STARTED LAST YEAR
