Zambia: No More Borrowings

Zambian President Edgar Lungu
Zambian President Edgar Lungu.

President Edgar Lungu has instructed Ministry of Finance to suspend contraction of fresh debt and limit spending to projects nearing completion, among many crosscutting measures aimed at ensuring debt sustainability and economic stability.

The Government will cancel some of the debts which have been contracted but have not been disbursed and those in the pipeline while others debts will be renegotiated to ensure sustainability