TRANSPARENCY International Zambia (TI-Z) says about $85 million was disbursed to state institutions without parliament’s approval. A report on the Analysis of the Special Audit Report of the Auditor General on External Debt indicates that the disbursement was done during Zambia’s second Eurobond. “The Zambian Government successfully issued a second Eurobond amounting to US$1 billion in 2014 at a coupon rate of 8.5%, and oversubscribed by US$ 4.5 billion. According to the audit report, Zambia issued the second Eurobond to investment in transport and energy sectors and for general budget purposes. The government allocated 31% of the Eurobond to the transport sector, specifically to the Link Zambia 8000 (USD$200 million) and TAZARA (USD$ 40 million), among others. Further, the government...