DEBT RESTRUCTURING SAVES ZAMBIA $1.4 BILLION ANNUALLY
Zambia’s economy is back on a firmer footing, with President Hakainde Hichilema crediting the country’s debt restructuring programme for both the savings achieved and the renewed confidence among investors and partners.
The President made the remarks in Lusaka as he unveiled the UPND Manifesto and Development Agenda for 2026 to 2031. Among the milestones of his time in office, he singled out the overhaul of Zambia’s external debt as perhaps the most consequential.
The numbers, he said, tell the story. Where the country once faced a far heavier annual repayment burden, that figure now stands at roughly US$900 million a year, a reduction that frees up close to US$1.4 billion annually. Rather than disappearing into repayments abroad, that money is staying in Zambia and going to work. The President pointed to free education, healthcare, social protection and infrastructure as the chief beneficiaries, the very services that shape everyday life for citizens.
Looking forward, Mr Hichilema signalled that the job is far from finished. The government has now opened a fresh chapter in its debt strategy by buying back the remaining Eurobond, a move he cast as another decisive stride towards lightening the national debt load. It is, he suggested, further proof of a steady determination to rebuild Zambia’s finances and keep them on a sustainable path.