Policy Monitoring and Research Centre (PMRC) has urged the Ministry of Finance to give regular updates on the Sinking Fund or any other viable proposed redemption strategy especially for the Euro-bonds.

Reacting to the recent State of the Economy Brief by Finance Minister Dr. Bwalya Ng’andu, PMRC Executive Director Bernadette Zulu told Money FM News in a statement that the Ministry should continue engaging the International Monetary Fund for technical assistance and possible bailout package that will assure and signal stability of the economy to bondholders and investors.

“PMRC urges the Ministry of Finance to give regular updates on the Sinking Fund or any other viable proposed redemption strategy especially for the Euro-bonds taking into consideration that the bullet payment of the first Eurobond amounting to US $750 million falls due in 2022,” Mrs. Zulu said.
Mrs. Zulu said the Ministry should also take into consideration that the bullet payment of the first Eurobond amounting to US $750 million falls due in 2022.

And Mrs. Zulu stressed the need for the Ministry of Agriculture to develop an exit and graduation strategy for all beneficiaries of the Farmer Input Support Programme to ensure sustainability of the Programme in the long term.

She also urged the Ministry of Community Development and Social Services to ring-fence funds for social protection purposes to prevent delays in disbursements of the Social Cash Transfer in light of the challenges faced by Government in meeting commitments on the Programme.

“In view of the approved  New Energy Policy 2019, we re-echo the need to improve the creditworthiness of ZESCO as the sole off-taker in order to instill confidence in private sector investors that the organization would purchase energy generated,” she added