OUR DEBT NEEDS TO BE RESTRUCTURED – MUSOKOTWANE
Finance and National Planning Minister, SITUMBEKO MUSOKOTWANE says
Zambia’s debt needs to be restructured as it is unsustainable.
And Dr MUSOKOTWANE has affirmed the Zambian Government’s commitment to the debt restructuring process and economic transformation programme through the eighth national development plan and strong public-private sector business linkages.
Dr. MUSOKOTWANE reiterated this in Accra, Ghana, during a bilateral meeting with Japanese Vice Minister of Finance MASATO KANDA.
The Minister took the opportunity to call for more Japanese investment in Zambia as a way of complimenting the efforts Government is making in attracting investors from all regions.
He said this is part of the Government’s agenda to ensure greater economic sustainability, job creation and wealth formation.
And, the Japanese vice Minister of Finance said climate action related investment is essential and should be pursued.
Mr KANDA said the time for private investment to be channeled towards Africa is now – because the continent has an edge over other regions of the world due to its young and expanding population.
He confirmed that Japanese investors are looking for success stories from Africa that have a positive demonstration effect on prospective investors.
Mr. KANDA announced that Japan will be holding the TICAD International Conference in August, 2022, at which event; the Japanese private sector will be collaborating with partners from Africa.
Dr. MUSOKWATANE also held bilateral talks with India and the African Development Bank.
The Minister is in Accra for the ongoing Annual Meetings of the African Development Bank Group – 23rd to 27th May, 2022.
He is accompanied by Permanent Secretary for Budget and Economic Affairs MUKULI CHIKUBA and Director for Economic Management MULELE MULELE.
This is according to a statement released by the Ministry of Finance and National Planning.