Shimunza challenges govt over sinking fund

MNT President Daniel Shimunza

Movement for National Transformation (MNT) President Daniel Shimunza has challenged the government to provide full details on how far it has gone in setting up a sinking fund to refinance the two Eurobonds.

He says the rising concern among Zambians is that the two Eurobonds will be maturing soon and yet the government seems not to have a plan of how to repay the huge loans.

Mr Shimunza says should the Zambian government default on the Eurobonds; it will have serious repercussion on the country’s economy.

And Mr Shimunza has charged that the country’s economy appears to be on auto pilot.