Zam­bia dismisses re­ports on debt

The East African - - OUT­LOOK -

The News:

The Zambian gov­ern­ment said it will start mak­ing quarterly re­ports on the coun­try's debts to avoid spec­u­la­tion.

Min­is­ter for Fi­nance Mar­garet Mwanakatwe said the min­istry has now set a stan­dard to be mak­ing re­ports on debt fig­ures pub­lic on a quarterly ba­sis. "This is meant to keep cit­i­zens and other in­ter­ested stake­hold­ers abreast of the de­vel­op­ments on this top­i­cal is­sue that has at­tracted so much at­ten­tion and in­ter­est," she said in par­lia­ment. Ms Mwanakatwe said the gov­ern­ment was tak­ing the is­sue of debt sus­tain­abil­ity se­ri­ously hence its de­ci­sion to un­der­take debt sus­tain­abil­ity anal­y­sis ex­er­cises to gauge the car­ry­ing ca­pac­ity as it re­lates to eco­nomic pa­ram­e­ters such as gross do­mes­tic prod­uct (GDP) growth, re­serves and debt ser­vic­ing ca­pac­ity. The debt sus­tain­abil­ity anal­y­sis was meant to give the gov­ern­ment an in­di­ca­tion of the level of debt that was de­sir­able to en­sure that growth was not im­paired and that the drive to­wards poverty re­duc­tion re­mains un­abated.

The Low­down:

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