Govt must concentrate on holding discussions to suspend commercial debt – Kanyama

ECONOMIST Chibamba Kanyama says government should focus on holding discussions with Eurobond holders and Chinese creditors for a possibility of debt suspension or rescheduling. President Hakainde Hichilema recently announced that government had signed the Debt Service Suspension Initiative (DSSI) with a number of lenders who include members of the Paris Club, Kuwait Fund, Saudi Fund, DBSA, among others, as part of their debt management and negotiation. But in an interview, Kanyama said the Eurobonds and the Chinese commercial debts were more problematic. “This is a good initiative. I am sure that there are very intensive behind-the-scenes discussions to reschedule much of this debt, if not suspension or cancelation where it is possible. Given the international goodwill that Zambia has, I...