2020 Fourth Quarter Bulletin : Summary of JCTR Webinar that took place on 22nd October 2020, ahead of Zambia’s Independence Day
Abstract
Given the position we find ourselves in as a country, it is important to ensure that there a holistic approach from all government ministries to come up with a prudent debt management strategy. It is also key for the Ministry of Finance to improve transparency through pro-active disclosure of information and regular reporting. In the light of the economic implications of sovereign debt default, the government must ensure adequate implementation of the medium-term Economic Recovery programme, cushioning the poor and the vulnerable in society from the economic shocks. Further, the Government must continue to pursue an IMF program as this will ensure debt sustainability and improved debt management in the future. as we come to the end of the eventful year of 2020,
on behalf of JCTR team and on my behalf, we take a moment to wish you all a blessed Christmas and a peaceful new year. May 2021 bring new and social justice perspectives for all of us and economic justice for the people we serve.
Description
Zambians need to understand the historicity of debt, the relationship between debt and development, how to strategically find lasting solutions, the role of citizens in the debt discourse, how to invest debt resources, management of debt resources and the debt sustainability parameters. The webinar mainly focused on the historicity of debt situation in Zambia and proposed some recommendations which would bring historical change in Zambia with respect to public finance management. Having acknowledged the incessant weakening fiscal fitness since the post-debt relief in 2006, it therefore becomes imperative to trace the root causes of the problem of debt burden in Zambia.