K100 million Eurobond vanishes without trace
THE Auditor-General’s report has revealed that K100 million which was drawn from the US$1.25 billion third Eurobond account and deposited into Control 99 for budget support has remained unaccounted for.
Zambia obtained US$750 million Eurobond in 2012, US$1 billion in 2014 and US$1.25 billion in 2015.
The Auditor-General’s report also noted that no tangible investments were done with the Eurobonds that the country obtained.
In 2020, Zambia became the first country to default on its debt leading to a debt-restructuring programme with its lenders, including bilateral creditors.
Credit: Zambia Daily Mail
Ask lungu and PF, they have the money while we, the Zambian people are suffering
When was this Audit done? The Euro Bond of $750 Million was obtained in 2012. There have been annual audits done from 2012. You discover K100 Million missing in 2024.?? Be serious you guys…We don’t want nosense.. We know your political fortunes have gone to the dustbin, and you are now trying to cling to power through some mudslinging…but be sensible in the mud you are using.
Who was the “Piper” in 2012 to 2021 who chose the “Tune” for AG to dance to when Auditing the period from 2012 as you put it? It’s a viscous Circle, Sir, if you will live long enough a future Ruling Party will also commission a future AG to “unravel and unearth” the government transactions 2021 to 2026 or 2031 or whatever period you care to speculate. That is the Tragedy of Human Beings, “nothing is new under the Sun”!!!
It’s not a secret, Eurobond was looted by PF, they had even brought a Professor to help them loot and squander the money. The law is getting close and very soon it will catch up with the culprits .
We had bunch of criminals, PF criminals cared less no wonder they ended up stealing everything and the slogan was introduced ubomba mwibala ulyela mwibala what a rotten head of state .
Ba auditor are you saying transactions leaves no footprints, up your assertions with skill
This Eurobond was mismanaged by Clive Chirwa. Please the court must availe to the public how this case was excutted and how it ended. Eurobond was supposed to revive the rail transport in Zambia according to my little knowledge I knew by then and nowander ba late Sata took Prof Clive Chirwa to Court.
What about the Balance? The Bank governor of that time must explain to us where it went bane. PF can tell us more where and this Eurobond went. Bwana Kalaba you were part of this Eurobond Time tell us more or else I will never give you my vote if you don’t expose them how the PF thugs looted the Eurobond funds
The central bank Governor was just holding the money. His role was to release the money to whoever the Minister of Finance told him to release it to. The Governor of course has records of who he released the money to.
The court acquitted Prof Clive Chirwa and paid him huge sum of money as damages simply meaning PF wanted to dent his name when PF knew how they looted this Eurobond funds failing even to pay back interests.
I still wonder as to why PF removed retirement of a civil servant from the age of 55 to 65 failing even paying the little retirees of their benefits at that time.
Like Emperor Nero fiddling while Rome burned, the UPND continues to fiddle while their promises remain unfulfilled!!