GOVERNMENT says the country’s current external debt-service payments have reduced to approximately $900 million per annum due to debt restructuring. Secretary to the Treasury Felix Nkulukusa says without restructuring, the country would have been spending an estimated $2.6 billion on debt servicing. Meanwhile, Nkulukusa says a combination of debt restructuring and economic reforms have contributed to the stabilization of the kwacha and return of inflation to the six to eight percent budget target range. In a statement, Friday, Nkulukusa said government was now spending approximately K15 out of every K100 of domestic revenue on external debt service, as opposed to K70 before. “Zambia’s successful debt restructuring has substantially reduced external debt-service pressures, restored macroeconomic stability and released resources for social...