Africa-Press – Zambia. President Hakainde Hichilema has expressed optimism that Zambia will soon reach an agreement on the common framework with its creditors regarding the country’s debt. The President said a technical committee engaged in the process is working towards addressing issues of debt sustainability.
He said the committee, which sat this week in Washington with the International Monetary Fund (IMF), is yet to conclude the discussion as other countries on board need to be given time. And the President has called on those involved to speed up the process of the talks with regards to the management of the country’s debt stocks.
Mr Hichilema stated the continued delays have potential to drive the country into indebtedness and then derail other development objectives which his administration is working so hard to manage.
The Head of State further indicated that failure to correctly prioritise areas which needed borrowing had disadvantaged the country in the past. President Hichilema pointed out that as a way forward, the government will only borrow for projects that have a return on investment.
The President reiterated his administration’s focus on attracting more investment to grow the economy and bring about prosperity. President Hichilema was speaking in an interview with US based Bloomberg Television’s anchor, Jennifer Zabasajja, during a special live interview at Mayflower Hotel in Washington DC.
Meanwhile, President Hichilema has expressed happiness at the outcome of his visit to the USA where he engaged in private bilateral talks and attended the US-Africa Leaders Summit.
The President said it was pleasing that Zambia managed to clinch a US$150 million mining investment deal at the summit. He said the deal was in line with his government’s policy on investment promotion towards economic recovery.
Mr Hichilema pointed out that in a world where technology was advancing, the new mine investors are bringing in innovation which will be of great benefit to the country.
President Hichilema also expressed optimism that commitments made by U.S President Joseph Biden would be actualised as Africa is determined to chart a new path for the future of its people. The President further called on fellow African leaders to remain united and follow up on the commitments made at the just ended summit.
President Hakainde has since left Washington DC for Zambia after attending the summit and engaging in other bilateral talks whose aim was to deepen and expand partnerships between the US and African countries, institutions and people.
President Hichilema took advantage of this platform to reiterate Zambia’s unique position as the investment destination of choice, not just for the US and other African countries, but for the global community at large.
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