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GLOBAL INVESTORS LED BY J.P. MORGAN MEET EAZ

GLOBAL INVESTORS LED BY J.P. MORGAN MEET EAZ

November 02
21:44 2018

By Mutisunge Zulu
National Secretary-

THE Economics Association of Zambia (EAZ) Friday  2nd November 2018

Lubinda Haabazoka is EAZ President at PMRC

A team of global investors led by J.P. Morgan Sub – Saharan Economist Ayomide Mejabi met
with the Economics Association of Zambia team led by its president Dr. Lubinda Habazoka in
Lusaka on 01 Nov. The team comprising various fund managers and Eurobond holders visited
Zambia to assess economic pulse.
Despite debt sustainability concerns, the Association is confident that Zambia will meet its
repayment obligation given the current bullish macroeconomic variable landscape. The
Association further revealed that the state still has room to implement measures that would
slow the accumulation of debt further to acceptable and sustainable levels.
The investors however stressed the need for frequent, consistent and timely updates on
Zambia’s fiscal performance. This, the visiting team said would ease their concerns.
Concerns were raised on the levels of capital expenditure for infrastructure development,
being a key driver of the current debt position. In this vein, investors highlighted the need for
credible commitment to downward adjustment to borrowing requirements.
The Association assured the visiting team that Zambia was strategizing around a plan to
redeem its debt obligations when they fall due.

Tendai Posiana

At an opportune time, the EAZ is hopeful that the Finance Ministry will share and announce a
debt redemption strategy.

CONTACT: Economics Association of Zambia Media and Communications Officer · June 1, 2018 to present · Lusaka, Zambia

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