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26 Apr 24
Auditors looking into Zambia’s public debt found large amounts of wasted spending from undrawn loans, as well as overpayments for equipment.
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26 Mar 24
Zambia has moved a step closer to exiting its years-long default after agreeing a restructure deal covering billions of dollars of debt with a group of its private bondholders.
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21 Nov 23
Zambia’s official creditors have objected to a deal the government made with private bondholders to restructure $3bn of eurobond debt.
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27 Oct 23
A preliminary agreement to restructure more than $3bn of Zambian government debt will pave the way for future agreements and release more funding to aid developments, the nation’s finance minister...
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23 Jun 23
Zambia’s bilateral creditors have agreed a deal to restructure billions of dollars worth of loans through the G20’s much-criticised ‘common framework’.
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24 Jan 23
The restructuring of the Zambian government’s debt is key to progressing welfare and education reforms, and ensuring financial sustainability, senior finance figures have said.
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8 Sep 22
The Zambian government has requested to have billions of dollars of debt payments in the next few years relieved as it implements reforms aimed at making its economy and public finances more...
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1 Sep 22
The Zambian government has secured a $1.3bn loan from the International Monetary Fund to accelerate reforms and restore debt sustainability.
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2 Aug 22
A group of Zambia’s major official creditors has announced its intention to restructure the country’s debts through a G20 initiative set up amid the disruption of Covid-19.
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25 Aug 21
New president Hakainde Hichilema vowed to reduce Zambia’s large public debt after his convincing election victory earlier this month, saying the budget has become “overwhelmed” by servicing costs.
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11 Dec 20
The Zambian government is seeking a financing arrangement with the International Monetary Fund to support its reform efforts after defaulting on a debt payment last month.
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23 Sep 20
Zambia has asked to suspend debt service payments for six months to allow it to deal with the Covid-19 hit to its public finances.
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25 Aug 20
Bank of Zambia governor Denny Kalyalya was sacked by Zambian president Edgar Lungu over the weekend, as the country continues discussions with the International Monetary Fund.
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24 May 19
A leading Zambian economist has dismissed dire warnings about a new tax that mining corporations claim will spark “mass layoffs” and economic collapse.
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7 May 19
Public finance officials will be key beneficiaries of an $11.1m loan to support Zambia’s efforts to restore fiscal stability.
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15 Apr 19
Campaigners have welcomed a Supreme Court ruling which means that parent companies can be held legally responsible in the UK for offences committed by their subsidiaries.
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28 Feb 19
Public sector accountants are becoming “enemies of the people” because they are failing to produce clear financial reports that the public can understand, Zambia’s president has warned.
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20 Feb 19
Zambia’s Finance Ministry will clean up its payroll system in order to remove ‘ghost workers’ and reduce the public service wage bill.
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7 Jan 19
Zambia’s accountant general has vowed to crackdown on public sector accountants found to be abusing taxpayers’ money and not “serving the nation”.
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24 Apr 18
The European Union has signed an €17m financing agreement to improve public financial management in Zambia.
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24 Aug 17
Zambia and South Africa intend to collaborate in tax administration, treasury management, revenue collection, trade and revenue leakage prevention.
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7 Sep 15
Public financial management in Zambia is both fragmented and outdated, and fails to capture internationally accepted best practice, the International Monetary Fund has said.
26 Apr 24Auditors looking into Zambia’s public debt found large amounts of wasted spending from undrawn loans, as well as overpayments for equipment.
24 Jan 23The restructuring of the Zambian government’s debt is key to progressing welfare and education reforms, and ensuring financial sustainability, senior finance figures have said.
28 Feb 19Public sector accountants are becoming “enemies of the people” because they are failing to produce clear financial reports that the public can understand, Zambia’s president has warned.
24 Aug 17Zambia and South Africa intend to collaborate in tax administration, treasury management, revenue collection, trade and revenue leakage prevention.
