MINISTER OF FINANCE MARGARET MWANAKATWE has assured United Kingdom based investors that the Zambian Government will firmly implement the Medium Term Debt Strategy [MTDS] and the Economic Stabilization and Growth Programme [ESGP].
Speaking from her Lusaka office through a conference call to over twenty  INVESTORS AND FUND MANAGERS GATHERED AT THE METROPOLITAN HOTEL IN LONDON, on the sidelines of the on-going Commonwealth Heads of Government Summit at which Vice President INONGE MUTUKWA WINA is representing the country, Mrs. Mwanakatwe said the Zambian Government is profoundly watching both the foreign and domestic debt trajectories and would ensure that there is sustainability in the medium to long term.
The Minister added that the planning and budgeting act will activate statutory induced budget credibility and enhance the Governments initiatives on fiscal consolidation.
“We have also taken the Public Finance Act to Parliament for repeal and replacement in order to bring in more stringent deterrent measures and punitive measures,” she said.
Mrs. Mwanakatwe invited the investors to consider Zambian risk as the economy is stable and growing, adding that, “the energy demand is increasing and may get higher due to our industrialisation and value addition programmes, this is why we need investment in the energy sector.”
The Minister has assured the investors that highlights of the Debt Sustainability Strategy [DSA] will be made public and available to both the domestic and foreign financial market players.
Among those who engaged with Mrs. Mwanakatwe and her team was Anglo Pacific, Barclays, HBK Europe, BNP Paribas, Blue Bay, Lazard, and Portman Global Partners.
Ministry of Finance Permanent Secretary for Economic Management MUKULI CHIKUBA is in London leading a joint technical team of Ministry of Finance and Bank of Zambia officials on investor engagement. The team is this afternoon also scheduled to meet investors who are under the BUSINESS COUNCIL FOR AFRICA umbrella.
And COMMERCE, TRADE AND INDUSTRY MINISTER CHRISTOPHER Yaluma is tomorrow expected to deliver a speech on investing in infrastructure and building growth at the Commonwealth Business Forum.
In the recent past, The UNITED STATES, the WORLD BANK GROUP, and the AFRICAN DEVELOPMENT BANK re-affirmed their commitment to work with the Zambian Government in accelerating the implementation of development programmes.
Meanwhile, Republican Vice President Inonge Wina has arrived in London for the Commonwealth Heads of Government meeting in the United Kingdom (UK).
Mrs. Wina who landed at Gatwick Airport around midday was received by Minister of Foreign Affairs Joseph Malanji and Zambia’s High Commissioner to the United Kingdom Muyeba Chikonde as well as other Senior Governmental Officials.
The Commonwealth Summit starts today 16 April and ends on April 2018, under the theme ‘Towards a common future’.
And the Vice President is scheduled to meet with the Commonwealth Secretary General Patricia Scotland during her engagement in London.
Minister of Foreign Affairs Joseph Malanji confirmed this to ZANIS in London this afternoon.
Mr. Malanji also stated that the Vice President will hold several bilateral meetings on the sidelines of the Commonwealth summit.
He further said Mrs. Wina will this evening meet Zambians living in the United Kingdom at the residence of Zambia’s High Commissioner to the United Kingdom Muyeba Chikonde.