THE Bank of Zambia (BoZ) has raised concern over failure by our civil servants to pay back loans which they are contracting, warning that abuse of payroll-based lending and off-payroll borrowing is threatening financial stability. According to Deputy Bank of Zambia Governor Dr Francis Chipimo, a recently conducted financial stability assessment showed that some public workers were obtaining credit not based on the payroll, often beyond permissible limits, through misrepresentation, non-disclosure of existing obligations, and borrowing from multiple institutions. In simple terms, civil servants are going to lending institutions to borrow money even when their.......