PRESIDENT Edgar Lungu will be departing for Madagascar to attend the inauguration of the island nation’s newly elected president Andry Rajoelina on Saturday.
Zambia’s High Commissioner to the Republic of South Africa, with Extra Accreditation to the Kingdom of Lesotho and Madagascar, H.E. Emmanuel Mwamba has announced today.
Amb. Mwamba says President Lungu will attend the inauguration in his capacity as the SADC Chairperson on Defence, Peace and Security.
Andry Rajoelina has returned to power after he won 55.66 percent against 44.34 percent for Ravalomanana in the run-off vote held last month, in an election that was beset by allegations of fraud.
Zambia has NOT defaulted on any of its foreign debt, Permanent Secretary, Mukuli Chikuba says
MINISTRY of Finance Permanent Secretary, Mr. Mukuli Chikuba has emphasized that Zambia has not defaulted to any of its creditors on its foreign debt.
Speaking in interview Mr. Chikuba said the action taken by government to seek a six months debt repayment suspension was to promote transparency and understanding among EuroBond holders.
“We have paid the debt service repayment due to the EuroBond.” He said.
“Our debt repayment service to the $750million Eurobond was bond two days ago.” He said.
He said Zambia like many other countries, have been impacted economically negatively by the pandemic.
“We have been impacted negatively by the Covid-19 pandemic.” He said.
In April,2020, the World Bank’s Development Committee and the G20 Finance Ministers, endorsed the Debt Service Suspension Initiative (DSSI) in response to a call by the World Bank and the IMF to grant debt-service suspension to the poorest countries to help them manage the severe impact of the COVID-19.
Mr. Chikuba said to this effect, Zambia has applied for the Deby Service Suspension Initiative (DSSI) to the Paris Club to address the challenges that has come with the Covid-19 pandemic.
He said the action done by government was to encourage transparency and has taken the initiative to commercial creditors too.
He said hovernment has reached out to the banks and commercial creditors such as the EuroBond holders, to agree on the debt repayment service schedule and seeka six months suspension.
He said after the Notice was deposited on Tuesday, the process will begin on 29th October 2020 to obtain consesus from the EuroBond holders so as to achieve a collaborative agreement on the debt service schedule.
Zambia-Djibouti deepen bilateral relations
ZAMBIA and Djibouti have pledged to deepen bilateral and multilateral relations and cooperation.
Presenting his Letters of Credence to the President of Djibouti, His Excellency Ismail Omar Guelleh, His Excellency Amb. Emmanuel Mwamba said Zambia recognises that Djibouti holds one of the world’s busiest shipping lanes of the world and plays a key role in promoting trade and commerce.
Mr. Mwamba stated that His Excellency President Edgar Lungu had placed emphasis on economic diplomacy and the diplomatic role of Djibouti was paramount to Zambia and Africa.
And President Ismail Guelleh said he was looking forward to visiting Zambia.
He said he last visited Zambia in 2007 and spent time at the Victotia Falls.
He also said Africa continues to take pride in Zambia’s first President and pioneer of the Organization of the African Unity(OAU) and now African Union(AU), Dr. Kenneth Kaunda.
He wished Dr. Kaunda good health and continued long life.
Earlier Mr. Mwamba held a meeting with Djibouti’s Foreign Affairs Minister, Hon. Mahmoud Ali Youssouf where they discussed aspects of deepening bilateral and multilateral cooperation.
Mr. Youssouf said Djibouti appreciated the role Zambia played in SADC and the African Union.
He said Zambia was a peaceful and model country that was bringing new ideas and fresh dynamics to the development of the continent through COMESA and other multilateral institutions.
He further hailed Zambia’s Tourism sector that many African countries, including Djibouti would pick lessons from.
This is according to a press statement, Mrs. Inutu Mupango Mwanza, First Secretary (Press and Tourism) in Addis Ababa,
Amb. Mwamba presents Letters of Credence to the State of Djibouti
ZAMBIA’S Ambassador to Ethiopia and Permanent Representative, His Excellency Emmanuel Mwamba is in the State of Djibouti to present Letters of Credence for his accreditation on behalf of His Excellency President Dr. Edgar Chagwa Lungu.
Mr. Mwamba started the process by meeting Djibouti’s Foreign Affairs Minister, His Excellency Mahmoud Ali Youssouf.
Mr. Mwamba is expected to meet the President of Djibouti, His Excellency Ismaïl Omar Guelleh.
Mr. Mwamba is accredited to Ethiopia, Somali, Sudan and Djibouti.
He is also the Permanent Representative tothe African Union(AU) and to the United Nations Economic Commission for Africa (ECA)
This is according to press statement issued by Mrs. Inutu Mupango Mwanza,
First Secretary (Press and Tourism).