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Vol. 6. Issue 2722
Wednesday September 30, 2020
ZAMBIAKasama MP warns UPND chief WOOS IMF
...in another mukula scam
Mr. Sampa
Mr. Mucheleka
P.2 ‘AUDIT
HH TOO’ …apologise or else, Mucheleka told
WITH ECONOMIC RECOVERY STRATEGY By MICHAEL MIYOBA & BUUMBA CHIMBULU AMBIA has launched an ambitious economic recovery strategy including seeking debt cancellation and relief as well as suspending debt contraction among other measures and this would cumulatively earn liquidity relief of over $900 million. Finance Minister, Bwalya Ng’andu, told bondholders during the investor call yesterday that Zambia was strongly committed towards implementing reforms that would address fiscal fragility. Dr. Ng’andu hopes to reach a debt restructuring agreement with creditors by April 2021. The minister said overall, the debt service suspension request could generate liquidity relief of up to USD 979 million.
Z
Finance Minister, Bwalya Ng'andu
The two trucks the Scania from South Africa and the Freightliner (right), Zimbabwean registered where foundof laden with Mukula Maximal impact Zambia debt tree logs. [Pictures Linda Tembo Soko] service suspension requests: Page 4 Assuming all request for See debt story serviceon suspension are granted, Zambia would be able to achieve:
Status of IMF engagement • Virtual meetings took place during June and July 2020 between the IMF staff, Ministry of Finance and Bank of Zambia teams
IMF talks on again Tutwa hits back at Mwiimbu • USD$ c. 81m of debt service relief (including arrears) on official claims in the context of the DSSI
• USD$ c. 897m of voluntary debt service relief (including arrears) on commercial claims
• Overall, debt service suspension request could generate liquidity relief of up to USD$ c. 979m
• Discussions on the medium-term macro fiscal framework are making good progress
Demolish structures • Mwanakatwe reveals contributing to floods - Lusambo talks set for April P.4 See story on Page 3 JACK Mwiimbu has no moral right to judge the work I have done in my constituency because his area is completely deserted, Kabwe Central Member of Parliament (MP), Tutwa Ngulube, has said. STORY ON PAGE 5
‘Stop going after ex-Presidents’ ….Cartel behind Kenyatta and Odinga the removal of immunity - RB pledge to heal divisions See of story on Page THE tendency labeling former heads of States villains and campaigning to have their immunity removed unfairly is orchestrated and executed by the same old cartel that had illicitly taken control of some State institutions, former republican President, Rupiah Banda has said.
19
Commonwealth sidelines ZCID on dialogue preps Mining firm sues Stanbic for $125, 000
• Two sets of pre-conditions must still be met for the IMF to consider Zambia’s request for financial assistance: (i) an effective implementation of upfront actions and (ii) the design and implementation of a debt strategy
Mr. Lusambo
THE purported audit of Konkola Copper Mine (KCM) provisional liquidator, Mr Milingo Lungu should be [Page 4] extended to probe UPND president Hakainde Hichilema to ascertain how he got shares in companies controlling KCM pension through Saturnia, New Congress Party president Peter Chanda has said. Pastor Chanda said the call by Mr Hichilema to audit Mr Milingo should also be extended to himself to probe how his companies were controlling the KCM pension scheme through Saturnia.
By GRACE CHAILE-LESOETSA BLACKFIRE Mining Limited has sued Stanbic Bank Plc demanding for US$125, 000 being damages for a breach of contract.
STORY ON PAGE 3
CONTINUES ON PAGE 3
See story on Page 4
ConCourt must explain Chilanga vacancy - YALI
The mining firm is also claiming unliquidated and related damages as well as interests on the said money.
STORY ON PAGE 5
See story on Page 2
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