DAILY NATION Thursday November 26, 2020

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OIL FIRM RAIDED MINES SIPHON www.dailynation.info | dailynation@ymail.com

Broke Kenya eyes talks on foreign debt cancellation

The Treasury will try to push wealthy countries and multilateral lenders like the World Bank to cancel part of Kenya’s ballooning public debt, reflecting concerns about the burden of paying creditors from taxes that have been hit hard during the coronavirus pandemic. In a November paper titled Post

Price K10

Vol. 6. Issue 2776

Covid-19 Economic Recovery Strategy 2020-2022, the Treasury says that it’s considering initiating talks with donor countries and multilateral lenders for debt forgiveness. This marks a bold admission that the country is struggling to repay the mounting public debt signals the gravity of the country’s rapidly

DAILY

...in another mukula scam

deteriorating cash-flow situation that is marked by falling revenues and worsening debt service obligations. Debt repayment in the four months to October accounted for 58 percent or Sh246.2 billion of the Sh426.3 billion taxes, which dropped 14 percent in the period on reduced economic activity. TO PAGE 7

Thursday November 26, 2020

Kasama MP Awarns UPND chief …IN UNREPORTED PROFIT REMITTANCES Mr. Sampa

BILLIONS

Mr. Mucheleka

By AARON CHIYANZO

S Zambia struggles with debt, billions of dollars are being siphoned out of the country by large mining companies in unreported profit remittances, a recent study has revealed. The study, by the Developing Economics titled Haemorrhaging Zambia: ‘Prequel to the Current Debt Crisis’ states that massive outflows of private wealth over the past 15 years, reached peaks of almost 20 percent of GDP in 2012, and over seven percent as recently as 2017.

…apologise or else, Mucheleka told [Page STORY CONTINUES ON PAGE 3

Zambia pledges cooperation The two trucks the Scania from South Africa with IMF and the Freightliner (right), Zimbabwean ...as IMF envoy jetswith in Mukula registered where found laden tree logs. [Pictures Linda Tembo Soko] STORY ON PAGE 2

See story on Page 4

Mr. Lusambo

IMF talks on again

Demolish structures • Mwanakatwe reveals contributing to floods - Lusambo talks set for April P.4 See story on Page 3

4]

$125,000 externalized illegally?

…Mining firm reports former CEO, bank employees to DEC

Kenyatta and Odinga pledge to heal divisions

BLACKFIRE Mining Limited has reported its former chief executive officer David Lance Morris and Stanbic Bank Zambia Plc employees to the Drug Enforcement Commission (DEC) for suspected money laundering.

P2

Building collapses, kills one P2

See story on Page 19

Commonwealth sidelines ZCID on dialogue preps

See story on Page 4

ConCourt must explain Chilanga vacancy - YALI

One Man has died on the spot, while two have survived with severe injuries following the collapse of the building they were working on in Libala’s Katungu area in Lusaka.

See story on Page 2

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