FINANCE MINISTER SAYS ZAMBIA’S 100% DEBT RESTRUCTURING DEAL BY NEXT YEAR NOT GUARANTEED
FINANCE National Planning Minister Dr. Situmbeko Musokotwane says Zambia’s 100% debt restructuring deal is not guaranteed despite reaching 94% progress, as the remaining 6% presents very difficult cases.
Dr. Musokotwane explains that the bulk of creditors have agreed to a common restructuring formula, but a small group has taken a different position, delaying full consensus.
He says the 6% of creditors who have not signed want alternative terms and have not accepted the settlement formula agreed by the majority, thereby complicating the deal.
The minister notes that negotiations are ongoing to bridge outstanding differences, but that no timetable can be given for the conclusion of the process.
Dr. Musokotwane adds that offering special concessions to the holdouts could undermine the commitment of other creditors and jeopardize the fairness of the arrangement, hence the government is seeking a compromise that balances the interests of all parties without disadvantaging the majority that have cooperated.
PN
Yes,it’s wise to be conservative about your statements Lest you be accused of promising to be selling mealie meal at K50 in future
Well understood honourable Minister of Finance.I have one thing that troubles me both day and night.Why are the retirees of national interest and voluntary of the restructuring program of 1998 not being paid their pension difference.We have heard the Ministry of Finance released some money recently but we have not seen the inclusion of compansations and awards your honourable Minister, could you kindly explain in simple language probably we are failing to understand your English.We want to go to the farms and work.This rain season is really promising we wouldn’t like to be left behind.We want to follow the Presidential call to produce food especially maize for our food security.