– ZACCI says money can now go to social sectors
NKOMBO KACHEMBA,
CHAMBWA MOONGA,
LOGIC LUKWANDA
Lusaka
FOLLOWING agreement between Zambia and bondholders to restructure $3.5 billion of international bonds, there were positive sentiments from many interest groups and individuals, with the local currency also appreciating.
The Kwacha sharply appreciated in yesterday’s trading session, a trend financial analysts attributed to the debt-restructuring deal.
“There were lots of players who were speculating on the debt issue, with the speculations, people were holding on to dollars, putting pressure on the local currency,” economist Caesar Cheelo said.
“Now the micro-economic issues are on track and people are now starting to feel comfortable releasing their dollars on the market, now there is no shortage of dollars. There is confidence that things are coming back on track.”
Zambia Chamber of Commerce and Industry (ZACCI) said debt restructuring is likely to result in improved living standards and quality of life among Zambians through Government’s enhanced spending on social sectors…https://enews.daily-mail.co.zm/welcome/home
