United Federation of Employers in Zambia President Humphrey Monde says the debt restricting deal achieved with Euro bond holders will stimulate economic growth, create investment opportunities, and lead to job creation.
Government yesterday concluded negotiation’s to restructure Zambia’s over $3.5billion debt with Euro bond holders after two years of constant talks.
Commenting on the development, Mr. Monde said the debt restructuring deal demonstrates government’s commitment to fiscal responsibility and paves the way for a more conducive business environment.
“This agreement will inject much-needed liquidity into the economy by alleviating the burden of debt servicing payments and unlocking substantial resources,” said Mr. Monde in a statement to RCV News in Lusaka today.
“Employers across various sectors stand to benefit from enhanced access to financing and increased consumer spending, fostering a climate the compatibility of the agreed terms with international benchmarks, such as the IMF’s program parameters, instils confidence in the global financial community and underscores Zambia’s commitment to sound economic governance,” said Mr. Monde.
He said the historic achievement marks a new chapter in Zambia’s economic trajectory, and expressed optimism that it will herald a brighter and more prosperous future for all Zambians.
By Michelo Hachizibe.
