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Alba Iulia
Monday, August 10, 2020

Zambia raises over 6.8 billion out of the 8 billion Kwacha COVID-19 Bond

Economy Zambia raises over 6.8 billion out of the 8 billion Kwacha...

Zambia has raised over 6.8 billion out of the 8 billion Kwacha COVID-19 Bond. Finance Minister Bwalya Ng’andu says the money is currently being distributed.

Dr. Ng’andu said that the government is ensuring liquidity into the economy through the stimulus package to create activity in the domestic economy.

Dr. Ng’andu said that the money will go towards the payment of arrears owed to suppliers of goods and services to government and money owed to pensioners and retirees.

Dr. Ng’andu was speaking to journalists in Lusaka today.

And the Finance Minister disclosed that he will present the realigned 2020 budget between this week and next week. Dr. Ng’andu said preparations for next year’s budget have also commenced with Provincial consultations during this week.

He said COVID-19 has had an immediate impact on revenue as there has been a substantial reduction.

Dr. Ng’andu said the budget is however on course and will be presented on time.

18 COMMENTS

  1. Whn a local bond issue by government is undersubscribed, it’s time to get worried. There’s no good news here. If the government cannot raise all the cash it needs aftr issuing debt instruments in its own currency, the currency the government itself has sworn to defend, u don’t celebrate. To the economically and financially-literate, it’s a very worrying sign.

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  2. Now wait for it? They want to use or misappropriate this money towards road construction and no guessing where and which proxy company at what inflated price….these thieves will not stop being reckless.

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  3. Pay retirees but when? Retired government workers are owed a lot of money not necessarily at the PSPF, but in ministries and departments. This also includes dues owed at all Provincial Administration centers in form of accrued leave days as well as long service bonuses. These were worked out and compiled at the time these civil servants retired and were promised that the government was going to pay them later. But years have past and are still going ranging from 1 to 15 years and people have not been paid. Pay us this money its our money and we worked for it. Our parliamentarians only argue on trivial issues instead of solving problems for the people who are suffering. Please pay us our money!

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    • DM I agree with you. They need to pay us this week starting Monday 13 July 2020. They like delaying and diverting money for PF projects. PSPF also should woke up and not divert the money to their many projects around the country. Further PSPF should not delay to pay retirees this money is for retirees and not for giving loans to government workers affiliated to PSPF as the case has been. They gave out a lot of loans instead of paying retirees. PSPF we know you are reading this. PAY RETIREES DONT USE THIS MONEY TO GIVE LOANS. MWACHILAMO. WE Need to be paid soonest.

    • YES DM THEY SHOULD PAY US OUR MONEY THIS WEEK. IF THEY DELAY PSPF WILL USE IT TO GIVE LOANS. THIS TIME PSPF DONT MAKE ANY MISTAKE LIKE WHAT YOU DID BY PAYING THOSE WHO RETIRED IN 2018-2019 LEAVING OUT THOSE WHO RETIRED IN 2017.

  4. Oh no! Who is still giving these thieves money? Please stop lending us money. You are just putting us in more financial trouble.

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  5. I’m telling you this government loves nkongole!

    I wonder if it were not Chinese companies which bought these bonds in view of getting government contracts otherwise it’s riskier lending PF government.

    PF must go!

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  6. Look at all the comments above from the angry sad evil diasporans. They hate it when their country of birth gets any positive developments. These traitors are pathetic because the whlte man they worship and followed abroad thinks of them as less than a human, but they would instead rather wish us bad and evil. Muyopa bazungu for you to release it on us ? Muchila za I.m.b.w.a imwe

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  7. Thanks Government we have been waiting for this for a long time at PSPF. Surely this time around God has answered our prayers. Now Government should caution PSPF, last time when Government gave them 500, 000 000.00 to pay retirees they made a lot errors. They paid 900,000.00 and below without following pension numbers, meaning that, even the ones who retired in 2018-2019 are the ones who benefited instead of those who retired in 2015-2017. This time follow the seniority on retirement. And don’t use this money to give loans twapapata pay RETIREES they have been waiting for so long and the dollar and covid 19 has already eaten that money.

  8. and the 6.8 billion that has been raised has already been looted, part he forgot in his speech…….. wasted years for real.

  9. and the 6.8 billion that has been raised has already been looted, part of the speech he forgot…….. wasted years for real

Comments are closed.

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