Category: MoFNP News

Thursday 4 August, 2022. This document (the “Document”) has been prepared by the Ministry of Finance of the Republic of Zambia (the “Republic”) with the assistance of its financial advisor Lazard Frères and legal advisor White & Case LLP (together, the “Advisors”) for the attention of the Republic’s creditors (each a “Recipient”) solely to update… Continue reading Update on the Debt Situation, Creditor Engagement and IMF Program

The Official Creditor Committee for Zambia, co-chaired by France and China and vice-chaired by South Africa, met on Monday, 18 July 2022 and provided financing assurances based on Zambia’s request for debt treatment under the G20 Common Framework. This unprecedented support will provide financing assurances to the International Monetary Fund (IMF) in support of Zambia’s… Continue reading Zambia Welcomes Financing Assurances

This is to inform the public and stakeholders that as part of the additional measures taken by the Government of the Republic of Zambia to address the current debt challenges, beyond the debt restructuring process, Cabinet has taken measures to cancel some loan financed projects while a few critical projects are being re-scoped to facilitate… Continue reading Measures taken by the Government on the Implementation of Loan Financed Projects

The deterioration of Gross National Income (GNI) per capita estimates recorded in 2021 – using the World Bank Atlas Method – has resulted in the re-classification of Zambia by the World Bank to low income status from lower middle income, for the 2023 financial year. To reverse the situation, the New Dawn Government has embarked… Continue reading Government Committed to Swift Return to Lower Middle-Income Country Status

Tuesday, 5th July, 2022 – The Government, through the Ministry of Finance and National Planning and the Office of The Auditor General, has successfully completed tender processes for engagement of independent consultants for evaluation of the process related to accumulation and audit of the public domestic arrears that its various institutions owe suppliers of goods… Continue reading Independent Evaluation and Audit of Public Domestic Debt Arrears Commences

Thursday, 30th June, 2022 – The Ministry of Finance and National Planning has in June 2022, released a total of K1.3 billion for the Constituency Development Fund (CDF), social cash transfer programme, food security pack, and purchase of drugs and medical supplies. Of the resources released the Constituency Development Fund (CDF) got K605 million for… Continue reading Total CDF Releases Reach 50% of Annual Allocation

World Bank Group Managing Director and Chief Financial Officer Ms. ANSHULA KANT is today expected to visit Zambia. Ms. KANT will hold high-level talks with the Government and visit some World Bank funded projects. She will be accompanied to Zambia by Dr. SAMUEL MAIMBO, Director, Development Finance, World Bank – International Development Assistance (IDA) and… Continue reading World Bank Managing Director Visits Zambia

Lusaka, Sunday, 19th June 2022 – In light of public statements by certain sections of society on the status of the International Monetary Fund (IMF) Supported Programme and the debt restructuring process, the Ministry of Finance and National Planning considers it necessary to clarify on some matters of concern and on others that have been… Continue reading The Debt Restructuring Process and the IMF Supported Programme