SECRETARY to the Treasury Fredson Yamba says the debt swap initiative is actually a way of paying arrears owed to public workers in form of leave travel benefits, salary arrears and other fringe benefits. Speaking when he visited the Payroll Management and Establishment Control, Friday, Yamba explained that the exercise was just one way of liquidating what was owed to employees of the government. “This exercise is cost neutral to government. It is a debt swap where government pays what the civil servants owe to the banks only to the extent that the civil servants are owing government. The reconciliation will take a maximum of three months, after which the actual amounts involved will be ascertained. The actual amounts involved…...

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