SECRETARY to the Treasury Felix Nkulukuka says Zambia has made significant progress in debt restructuring, having achieved over 92 percent agreement in principle with its creditors amounting to $12.4 billion. Nkulukusa says despite the progress made in debt restructuring, Zambia will continue to service the debt that accumulated from bonds borrowed between 2016 and 2021. Speaking at the town hall meeting on the mid-year budget performance, Thursday, Nkulukusa said in 2025, the government was projecting to pay about K43 billion, and in 2026, that figure would increase to K72.9 billion in terms of debt service alone. “In 2010, we had started paying [K]1.4 billion in debt service both for domestic and external debt. We reached 2016, we had only paid...
