$5m paid to Lazard Freres can easily be recovered – Ng’andu

FORMER finance minister Dr Bwalya Ng’andu says the US $5 million which was paid to Lazard Freres for the provision of advisory services on Zambia’s debt management is not a big amount and it can actually be recovered if good restructuring is done on a single loan. On Thursday, Finance Minister Dr Situmbeko Musokotwane told Parliament that government would not cancel the debt restructuring contract with Lazard Freres because it would only cost the country more money. “We just advise that where your colleagues left you pick up from there. And indeed just like they picked up from the MMD of external debt of less than $2 billion and took it now to almost $15 billion currently. So yes we...