Q FM Africa's Modern Radio
Finance Minister Situmbeko Musokotwane has revealed that government will soon be engaging Zambia’s creditors on debt restructuring.
Dr Musokotwane is hoping that this will be done in May this year, stating that the process is progressing well so far.
He says Zambia is in a debt crisis because of over borrowing in the recent past.
Speaking at the Launch of the Multi-Annual Indicative Programme by the government and European Union in Lusak today, Dr. Musokotwane has further disclosed that government will by mid-year meet with the International Monetary Fund to discuss the outcome of the meeting with creditors.
And Dr. Musokotwane has requested the European Union to support Zambia when the matter goes to the IMF and the World Bank.
He says government is doing everything possible to sanitize the indebtedness the country has been grappling with.
Speaking earlier, European Union Ambassador to Zambia and COMESA, Jacek Jankowski has reaffirmed the EU’s support to contributing to preserving Zambia’s peace, strengthen Zambia’s stability, while supporting the country’s inclusive, sustainable, social and economic development in line with EU political priorities for international partnership.
Mr. Jankowski says the EU and Zambia’s ambition through the Multi-Annual Indicative Programme is to continue to develop the long standing partnership and leverage EU expertise and resources to accelerate Zambia’s social and economic development and strengthen the country’s stability.