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Strong macroeconomic environment vital – PS

NANCY MWAPE, Livingstone
GOVERNMENT is working on strengthening the macroeconomic environment to easily refinance the eurobonds when they fall due, Ministry of Finance Permanent Secretary Mukuli Chikuba says.
Zambia has issued three eurobonds worth US$750 million and US$1 billion in 2012 and in 2014, which are due to be paid in 2022 and 2024, respectively, while the US$1.25 billion issued in 2015 will be due for repayment in 2027.
In an interview alongside the just-ended World Bank high-level meeting, Mr Chikuba said the economy is performing fairly well compared to two years ago when Zambia faced inflationary and growth challenges.
“There is stability in the economy. The exchange rate has found its level and supply conditions are favourable, giving impetus for growth going forward,” he said.