Africa-Press – Zambia. THE Auditor-General’s report has revealed that K100 million which was drawn from the US$1.25 billion third Eurobond account and deposited into Control 99 for budget support has remained unaccounted for.
Zambia obtained US$750 million Eurobond in 2012, US$1 billion in 2014 and US$1.25 billion in 2015.
The Auditor-General’s report also noted that no tangible investments were done with the Eurobonds that the country obtained.
In 2020, Zambia became the first country to default on its debt leading to a debt-restructuring programme with its lenders, including bilateral creditors.
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