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Zambia has NOT defaulted on any of its foreign debt, Permanent Secretary, Mukuli Chikuba says 

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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.

Politics

Chileshe Kandeta arrested for leaking the 2021 National Budget Speech 

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POLICE in Lusaka have charged and arrested Ministry of Finance Public Relations officer Chileshe Kandeta and Lazarous Mwelwa, a Budget Analyst at Ministry of Finance for the offence of Communication of Certain Information contrary to section Four chapter 111 of the State Security Act.
Acting police spokesperson Danny Mwale confirmed the arrest of Kandeta, 50 of Kabulonga and Mwelwa aged 46 of Chamba Valley.
“This is in relation to the leaking of the 2021 National Budget Speech which went viral before it was officially presented in Parliament.They are detained in Police custody awaiting court appearance,” Mwale said.
Earlier, Lusaka Province police Nelson Phiri expressed ignorance over Kandeta’s arrest, saying he has no information.
Police locked up Kandeta over allegations of the leakage of the National Budget.
He was summoned on Thursday and immediately locked up.
The police have summoned various media personnel over allegations that the national budget was leaked and published before Minister of Finance Dr. Bwalya Ngandu presented and delivered it in Parliament.
Diamond TV chief executive officer Costa Mwansa and Head of Current Affairs, George Chomba.

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Lusaka is totally transformed, but utupuba tu letalika, President Edgar Lungu says 

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PRESIDENT Edgar Lungu has bragged at how Lusaka has greatly transformed owing to various projects his Government has initiated.

Speaking when he commissioned the Arcades Fly-over bridge in Lusaka, President Lungu said Government will continue to improve the face of Lusaka as it is the capital city.

He said the city has totally transformed, stressing that “a diplomat who left Zambia and was recently visiting from South Africa could not remember Lusaka because of the way it has been transformed”.

“He told us that he could not trace where he used to stay here in Lusaka and that is a fact because Lusaka is totally transformed, but ‘utupuba tu letalika’ (small fools are arguing),” The head of State said.

(Picture by Eddie Mwanaleza/State House)

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Vox populi, Vox dei, Linda Kasonde says 

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THE people of Zambia have spoken. Now is the time to set aside our political affiliations and forge a unified national agenda that will benefit Zambians from all walks of life, says Chapter One Foundation Executive Director Linda Kasonde.
Ms Kasonde has congratulated all the members of Parliament, Civil society, Churches, and ordinary citizens who stood firm in defeating the Constitution Amendment Bill No. 10 of 2019 (Bill 10).
In a statement to Mwebantu, Ms Kasonde said shooting down the Bill is a collective victory for Zambian democracy and the future of the people.
She said since President Fredrick Chiluba’s attempt to stand for a third term in office, the people of Zambia have stood together and remained resolute against creeping autocracy.
“This is a gift that we have given unto ourselves. The greatest victory is the re-awakening of the Zambian people to the fact that their voice matters, and that people power does work. We hope that this lesson will not be forgotten as we continue to face many governance issues as a democracy,” she said.
Ms Kasonde has urged government to remember that they are the servants of the people adding that [Vox populi, vox dei] the voice of the people is the voice of God.
She said now is the time to set aside political affiliations and forge a unified national agenda that will benefit Zambians from all walks of life.
“We are faced with serious challenges as a nation: Mounting debt and inflation, a declining economy, corruption, social disintegration, and political disharmony.
We have a generational responsibility to defeat these vices as a people. Let us all join hands and continue to be resolute as One Zambia, One Nation,” Ms Kasonde said.

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Foxdale Forest – Phase 2 Selling

ZAMBIA: COVID-19 STATS

31 Oct 2020, 11:00 AM (GMT)

Zambia Stats

16,432 Total Cases
349 Deaths
15,680 Recovered

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