Categories: Editor's Picks

NGOCC still concerned about Zambia’s debt stress

Non-governmental Gender Organizations’ Coordinating Council (NGOCC) says it remains deeply concerned about the country’s indebtedness.
Speaking at a media briefing to review the year 2020, Organization Chairperson Mary Mulenga stated that the high debt burden is now having a huge toll on the Government Treasury going by the recent reports of Zambia’s defaulting on debt repayment.
Ms. Mulenga said any debt distress affects the social sector spending especially on the health, education and agriculture sectors.
She however noted that government has taken some steps to address the debt situation through debt restructuring and dismantling mechanisms, and also the passing of the Planning and Budgeting Act as well as the recently launched Zambia Economic Recovery Programme for 2020 to 2023, among other measures.
“NGOCC remains deeply concerned about the country’s indebtedness. According to the Finance Minister, Dr. Bwalya Ng’andu, Zambia’s external debt stock stands at US$11.2 billion as at the close of the year. This is an increase from the US$10.2 billion recorded as at end of July 2019.”
“This high debt burden is now having a huge toll on the Government Treasury going by the recent reports of Zambia’s defaulting on debt repayment,” Ms. Mulenga said.
Ms. Mulenga further said citizens are looking for practical measures that will address the current socio-economic challenges, hence it is the organization’s aspiration that that such interventions will be implemented in a more decisive and transparent manner.
“It is our hope and prayer that such interventions as articulated in the said documents be implemented in a more decisive and transparent manner. Zambians are looking for practical measures that will address the current socio-economic challenges.”
“It is also NGOCC aspiration that the impact on the poor, especially the majority women and children will be ameliorated in the process. The poor, especially women and children depend on Government’s service delivery in both the health and education sectors.”
Meanwhile, Ms. Mulenga observed that during the year under review, there were reports of increased shortages of key drugs in health facilities, such as insulin for diabetic patients, dialysis reagents for kidney patients, as well as blood shortages in the Blood Banks.
“More and more people were given prescriptions to fetch drugs from alternative sources because the Government facilities didn’t have stock at most times. With regard to education, it was noted that the quality of secondary education services remained challenged due to inadequate teaching professionals and infrastructure such as boarding facilities to cater for the growing number of learners,” she noted.

More From Author

World Bank urges Zambia to capture other benefits beyond mining sector

• World Bank is committed to supporting African countries to translate Africa’s mineral wealth into…

Read More

Kwacha gains should benefit consumers – BuyZed

• This is to ensure that consumers begin to enjoy what is produced locally.• Manufactures…

Read More

SEC attributes decline in Q4 bond trades to delayed debt restructuring process

• One of the challenges is to do with the delays in finalizing the debt…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stakeholders call for inclusion of children with Autism in education system

There is no effort to include children with Autism in the current Education system. Government…

Read More

Over 600,000 homes to benefit from Liquid Zambia’s enhanced internet access

Connectivity is the cornerstone of Zambia’s digital transformation journey. This remains vital in driving digital…

Read More

April food basket drops by K255.14-JCTR

This is compared to the March basic needs and nutrition basket which stood at K10,…

Read More