Lusaka, 22 November, 2020 / 3:20 pm (ACI Africa).
After Zambia’s external creditors denied the government’s appeal for the suspension of the re-payments of the Eurobonds for six months, the leadership of the Jesuit Centre for Theological Reflection (JCTR) has encouraged the push for debt relief.
“JCTR is calling upon all concerned stakeholders (local, national, regional and international) to join hands and to show solidarity in advancing the noble cause to persuade Zambia’s creditors to consider any form of debt relief for the Zambian people,” JCTR officials say in their Sunday, November 15 statement.
In the message signed by JCTR Executive Director, Fr. Alex Muyebe, the leadership of the research institution that is based in the Southern African nation explains that “Zambia needs some space to address its indebtedness in a manner that will not harm the dignity of the lives of the millions of the Zambian people.”
On 22 September 2020, Zambia’s government applied for the deferment of the Eurobond interest payments of the US$3 billion debt for six months, until April 2021, while the relevant authorities work on a debt-restructuring strategy.
The six-month grace period was to cover three coupon payments whose due dates are 14 October 2020, 30 January 2021, and 20 March 2021.