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Pressure on Kwacha will reduce once Debt Restructuring is successful- HH

Filed under: Latest News |

President Hakainde Hichilema during the end of year 2023 press briefing at Mulungushi Conference Center in Lusaka

President Hakainde Hichilema (HH) says the pressure on Zambian Kwacha against the United States Dollars will only reduce once the Debt Restructuring is successful.

President Hichilema says Debt Restructuring is likely to be concluded in 2024.

Speaking during an end of year Press Briefing, Friday, morning at Mulungushi Conference Center in Lusaka, Hichilema said the success of Debt Restructuring will mean the Country will only be paying 75,000 Million United States Dollars per annum.

This is instead of the 750,000 Million United States dollars per annum for the next ten years.

The President says the delay in concluding the Debt Restructuring process is causing uncertainties amongst investors, hence mounting pressure on the Kwacha to the point of depreciating value.

Hichilema appealed to the citizens to be patient as the country has already done its part to ensure the success of the Debt Restructuring process.

He also appealed to the church and the opposition to support Government in the process.

At the same event, President Hichilema signed into law the Access To Information (ATI) bill something which was not done for over 20 years.


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