Zambian Economists Welcome Debt Swap Deal

 

By Patricia Banda-

The Economic Association of Zambia -EAZ- has welcomed Government’s initiation of a debt swap for Civil servants.

EAZ President Lubinda Habazoka says this will reduce the burden on Civil Servants of paying debt to some lending financial institutions.

Dr. Habazoka explains that many sectors of the economy have not been spared from the negative effects of Covid-19 adding that giving a debt relief to a big workforce in the country is a way to go.

He told ZNBC news in an interview that his Association has been following the process of debt swap from last year until now that it has successfully been implemented.

Dr. Habazoka also stated that people who are condemning Government’s move may be doing it for political reasons.

And Dr. Habazoka says Government must also be commended for other interventions in mitigating the impact of Covid-19 such as the increase in a number of people benefiting from Social cash transfer.

Source: ZNBC《》RT

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