Finance boosts investment, debt management wing

By BUUMBA CHIMBULU

THE Ministry of Finance has strengthened its Investment and Debt Management Department to ensure that Government’s debt is dealt with in an active manner.

As of October 2017, Zambia’s external debt stood at US$7.6 billion while domestic debt was at S$4.5 billion.

According to head of public relations and media, Chileshe Kandeta, the department which was dealing with both domestic and foreign debt had been strengthened to ensure that the debt was adequately sorted out.

“There is already a debt management office at the ministry, it is a special investment and debt management. It is the one that deals with public investment on both foreign and domestic debt,

“It is spearheaded by Mr Jacob Mkandawire. It is already in and place and they are the ones who do debt sustainability analysis and speared for the publications, it is a department,” Mr. Kandeta said.

Mr. Kandeta said in an interview that this was the same department which dealt with Heavily Indebted Poor Countries Initiative.

“This department deals with domestic and foreign debt and Government investment the actual name is Investment and Debt Management. We have strengthened the department and this is a department that dealt with HIPIC,” Mr. Kandeta said.