TRANSPARENCY International Zambia (TI-Z) says the lack of proactive action in allocating resources to Zambia’s sinking fund amidst increased external debt contributed to Zambia’s debt default in 2020. TI-Z’s analysis of the Special Audit Report of the Auditor General on External Debt has revealed that government did not take the need to allocate resources to the nation’s sinking fund seriously. According to the report, only amounts totalling $9.5 million had been deposited into the sinking fund as of 31st January 2024. “According to the Audit Report, “only amounts totaling US$9.5 million had been deposited into the Sinking Fund as of 31st January 2024.” This is almost equivalent to the US$9.51 million wasteful expenditure stated earlier. During the period under review,...