$840million accrued and now written off on the $3billion Eurobond, is debt service that has accumulated during this period from December 2020 todate- Amb. Emmanuel Mwamba

Amb. Emmanuel Mwamba

By Amb. Emmanuel Mwamba

On the $840m-False Celebrations

The G20 Framework and the G20 Debt Service Suspension Initiative(DSSI) is very clear- NO accumulated debt interest arrears accrued during the suspension period of debt service
must be paid.

The $840million accrued and now written off on the $3billion Eurobond, is debt service that has accumualted during this period from December 2020 todate…when the country was not servicing this debt under the DSSI.

In the G20 framework, this money must NOT be paid…its therefore not a discount as Government is desperately wishing it to be.

Remember why the first negotiations in October 2023 were rejected by the IMF and OCC and it failed? In that case, Government chose to commit to clear the $840m debt service arreas accumulated since December 2020…arreas that must be written off as a condition of the G20 Framework.

Therefore there is no discount or acheivement…it’s in the G20 framwork and uniform treatment of creditors.
Those Government is desperately looking for a good strategic in the failed debt reschedule.

No debt forgiveness has been achieved.

Debt has been rescheduled to 2023-2050 but interest will be paid between now and 2050 starting with the $157million that should be paid by June 2024.

Unlike the debt write-off that occurred under the Highly Indebted Poor Country (HIPC) Debt negotiations where a total of $7billion was written off,in this case, there is debt reschedule for the next Government to pay.


  1. I don’t know who told him that there is debt forgiveness which upnd is claiming. It’s just debt restructuring not debt forgiveness.

  2. This pfidiot, so the amount $840m accrued was not due to be paid because you and your pfools defaulted on payment? This overdue interest has been written off, you stupid pfidiot!!

  3. Idiot mwamba stop playing to our mind, I think you deserve prison you morons because you’re now taking us for a joke after subjecting us into this shit then you begin talking like this,you Idiot can you stop your nonsense

  4. There you go…as I said earlier. Twisting facts to vantage the narrative.
    The Minister of Finance and Secretary to the Treasury were very clear in their statement. Where did he get his narrative that he wants to create?
    Some people just need to crawl into a corner and fade away. Nothing to offer Zambians apart from inciting anarchy so that they can come back into Power and loot.

  5. The blame is on new dawn government. They tolerated and gave these criminals holiday. We are still waiting to know the sources of Faith’s money…….

    • New Dawn is just too incompetent. Their incompetence will catch up with them. Indeed, it’s incomprehensible that most of the criminals in the previous regime are still roaming out there


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