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Alba Iulia
Wednesday, August 12, 2020

EAZ confident Zambia will not default on debt payments

Economy EAZ confident Zambia will not default on debt payments

The Economics Association of Zambia has re-iterated its positive economic outlook for Zambia giving assurance to the Federated Investors (FI) whose fund comprises of emerging market fixed income assets to include Zambia’s foreign currency denominated Eurobonds and kwacha assets, that the country will not default on its obligations whatsoever when they fall due.

The Association stated that Zambia’s macroeconomic fundamentals remain bullish and solid despite structural
issues on account of balance sheet vulnerabilities as a consequence of debt sustainability concerns.

It cited Infrastructure spending as the major contributor to the current debt position which Zambia is addressing through its medium term expenditure framework as the Ministry of Finance seeks to restore the nation to fiscal fitness.

The Association added that Zambia has continued to be an attractive investment hub as evidenced by an influx of investment projects post successful hosting of investment expos aimed at achieving the requisite visibility for opportunities.

The EAZ further added that it is of the view that Zambia needs to get onto an IMF program, aligned with the nation’s economic stabilisation and growth initiatives which will then boost both local and foreign investor confidence.

This came to light when Standard Chartered Bank Chief Economist for Africa and Middle East Global Research–Razia Khan and Federated Investors (UK) LLP (a privately owned investment manager based in London) – Portfolio Manager for Emerging Markets Fixed Income (EMFI) Mohammed Elmi met with the Economics Association of Zambia at Hotel Intercontinental
in Lusaka to discuss the economic outlook for Zambia.

Accompanying Khan was Executive Head of Treasury for Zambia and Southern Africa Mwaba Kabwe and Head of Global Banking for Zambia Emmanuel Banda.

The EAZ was represented by its president Dr. Lubinda Habazoka, National Secretary Mutisunge Zulu, Executive Director Mirriam
Nachilima and ZIPAR Senior Research Fellow Caesar Cheelo.

The first ever economic summit will be held in Livingstone mid-year of 2019 at which various economists and related fields will be expected to convene to present papers that will help in building the economy.


  1. The title should instead read “PF Cadre Lubinda Habazoka is confident Zambia will not default on debt payments”

  2. Independent, be patriotic or just pretend to be patriotic for once for this poor Zambia. Ba HH naba GBM have also got skeletons in their closets. Let’s be real.

  3. This article looks and sounds like it was written for him by Chinoda Ngwira or atleast Antonio “Mourinho” Mwanza……….but anyway who am i???????

  4. Not every jim and jackass . No wonder they police pick you up.

    Am not a medical doctor and it unethical for me to hold a dark corner meeting with laymen to discuss medical issues in Zambia

  5. At least there is going to be a delay in reposesing some other national assets,that’s if you are correct. Indebted country.

  6. As long as habazoka is there EAZ will never be objective and anything that comes out of them should be taken with a pinch of salt.

  7. Maggie mwanakatwe has already paid $800 million towards the eurobond. Our economy is more than capable of dismantling that debt. This is already creating a buzz in the international media, if some of you cared to read. Those who invested in the Zambian bonds are already regaining the confidence they had lost in Zambia. That confidence was lost due primarily to unpatriotic noise makers within our own country, citing Zambia as a nation in a debt crisis. Today there’s positive coverage in Bloomberg and the New York Times. So, is it habazoka manipulating the international media as well, or you are just a jerk who can’t stand any good news coming out of Zambia?

    • Unama Boza iwe “jerky”
      Your pockets filled with dirty pf money are misleading you. The suffering among many ordinary Zambians is real.

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