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Govt admits sanctions, calls for calm

Filed under: Breaking News,Business |
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Dora Siliya

The Zambian Government has confirmed that the Africa Development Bank (AfDB) has imposed sanctions on the county, reports Zambian Eye Correspondent in Lusaka.

Government through it’s Chief Spokesperson, Dora Siliya has confirmed the development calling on Citizens not to panic.

These fiscal sanctions on Zambia and according to a press statement from Ministry of Finance frantic efforts are being made to settle the outstanding payment.

This follows the failure by Zambia to clear monthly payment of loan interest arrears of $1.4million.

Zambia, Sudan, Somalia and Zimbabwe were sanctioned over the failure to meet monthly commitments.

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Start: 2019-07-01 End: 2019-07-31