THE Civil Society for Poverty Reduction (CSPR) has expressed concern over government’s shift to commercial borrowing, even at rates exceeding what the Eurobond initially provided when Zambia was condemned for having gone for “expensive loans”. CSPR says it observed from the statement of the IMF board that government sought and received a waiver to borrow non-concessionally for the supplementary budget No. 1 of 2025. CSPR Executive Director Isabel Mukelabai warns that as the government acquires more commercial debt while restructuring the previously acquired debt, the fiscal space to fund essential social programmes that directly improve the lives of the poor will continue to shrink. In a statement, Monday, Mukelabai acknowledged the IMF Board’s recent approval to disburse an additional $184...
