Author: Mukuni Zunduna

Many developing countries are teetering on the cusp of default and may soon find themselves in debt-restructuring negotiations of their own. Zambia’s minister of finance and national planning explains how his country navigated the process. On 22 June, after extensive negotiations, Zambia made a breakthrough and reached a $6.3bn debt restructuring deal with its official… Continue reading Indebted nations can learn from Zambia’s breakthrough debt deal

Lusaka, 13 July 2023 – The Government of Zambia welcomes the approval of the first review of Zambia’s programme by the IMF Management and Executive Board. The completion of the review enables the second disbursement of IMF financing and gives Zambia access to approximately US$188 million. The completion of the review follows the Staff-Level Agreement… Continue reading ZAMBIA TO RECEIVE SECOND DISBURSEMENT OF IMF FUNDING

On the 22nd of June 2023, the Government of the Republic of Zambia announced that it reached an agreement on a comprehensive debt treatment with its Official Creditors under the G20 Common Framework. This landmark achievement is a significant step towards restoring Zambia’s long-term debt sustainability. It complements the strong commitments from Zambia’s Multilateral Development… Continue reading QUESTION AND ANSWER ON: ZAMBIA REACHES AGREEMENT WITH OFFICIAL CREDITORS ON DEBT TREATMENT UNDER THE G20 COMMON FRAMEWORK

Thursday, 22nd June, 2023 – The Government of the Republic of Zambia is pleased to announce that it has reached an agreement on a comprehensive debt treatment with its Official Creditors under the G20 Common Framework. This landmark achievement is a significant step towards restoring Zambia’s long-term debt sustainability. It complements the strong commitments from… Continue reading ZAMBIA REACHES AGREEMENT WITH OFFICIAL CREDITORS ON DEBT TREATMENT UNDER THE G20 COMMON FRAMEWORK

Finance and National Planning Minister Dr. Situmbeko Musokotwane is in Sharm El Sheikh, Egypt, for the 2023 Annual meetings of the African Development Bank (AfDB) Group, which commence today and end on Friday, 26th May, 2023. Dr. Musokotwane is accompanied to the 2023 AfDB Group Annual Meetings by Ministry of Finance and National Planning Permanent… Continue reading 2023 ANNUAL MEETINGS OF THE AFRICAN DEVELOPMENT BANK (AfDB) GROUP COMMENCE IN EGYPT

Finance and National Planning Minister Dr SITUMBEKO MUSOKOTWANE has called for consistent and effective monitoring of budget execution by all stakeholders in their sectors of operation and interest. The Minister has affirmed that the implementation of the 2023 budget is on course as all major budgeted programmes are now being funded, considerably. He has also… Continue reading K11.4 BILLION RELEASED FOR DEVELOPMENTAL PROGRAMMES & PUBLIC SERVICE DELIVERY

Finance and National Planning Minister Dr. Situmbeko Musokotwane has called for consistent monitoring of budget execution by all stakeholders in their sectors of interest, and urged all members of the public, individual and corporate, to actively participate in the formulation of the 2024 National Budget and the 2024 to 2026 Medium Term Expenditure Framework (MTEF).… Continue reading THE GOVERNMENT RELEASES K15.5 BILLION FOR PUBLIC SERVICE DELIVERY

Lusaka, 6th April, 2023 –Following the first review mission for the Extended Credit Facility (ECF) Programme, Zambia and the IMF staff have reached a Staff-Level Agreement (SLA) on economic and financial policies that will anchor programme implementation for the next 12 months. The SLA is subject to approval by IMF Management and the Executive Board… Continue reading ZAMBIA, IMF REACH STAFF-LEVEL AGREEMENT ON FIRST REVIEW OF THE EXTENDED CREDIT FACILITY PROGRAMME

I am pleased to inform the Nation that, following overwhelming response from eligible taxpayers, many of whom have continued to submit applications even as at this afternoon, the Government has extended the tax amnesty on tax penalties and interest obligations granted to taxpayers, which was introduced as part of the 2023 budget measures. In the… Continue reading TAX AMNESTY EXTENDED DUE TO OVERWHELMING RESPONSE

Finance and National Planning Minister Dr Situmbeko Musokotwane says in 2023, the Government will continue to build on the gains made in public resource management and economic governance as a way of ensuring that the people of Zambia benefit from the fruits of economic transformation. The Minister says one of Government’s focus areas in 2023… Continue reading JANUARY BUDGET RELEASES TOTALLED K12.4 BILLION