Govt challenged over Sinking Fund

Mambo Hamaundu

Financial Analyst Mambo Hamaundu has challenged the government to provide full details on how far it has gone in setting up a sinking fund to refinance the country’s debt.

Mr. Hamaundu tells QTV Business News that it is important that the nation is availed with the full details on how far the government has gone in setting up the sinking fund.

He says the failure by government to set up the sinking fund confirms the concerns raised by the World Bank that 75 percent of the Zambian Cabinet’s decisions are never implemented.

Mr. Hamaundu says former Finance Minister Felix Mutati told the nation that the government was in the process of establishing the sinking fund saying up to date, he wonders if this fund has been set up.