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Hakainde Hakainde

Debt freedom long overdue

CHOMBA MUSIKA,NANCY SIAME Lusaka
PRESIDENT Hichilema yesterday hosted two of the world’s most powerful women in as far as global finance is concerned – US
Treasury Secretary Janet Yellen and International Monetary Fund managing director Kristalina Georgieva – one after the other. But the talks more or less centred on one thing – how to get Zambia out of its debt quagmire and back on a road to economic recovery. And for Dr Yellen, Zambia’s debt freedom is long overdue,and threw her influence around the country’s most important creditor – China.Of the approximately US$14 billion Zambia owes international lenders, US$6 billion is Chinese debt.Dr Yellen said she met Chinese representatives, with whom she raised the issue, and the talks were constructive.She said resolving Zambia’s debt crisis is CLICK TO READ MORE