ZEHEST Calls for Transparent Debt Management Practices

Zambian Empowerment Hub for Entrepreneurship and Skills Training (ZEHEST) has called for transparent debt management practices.

Organization Executive Director, Clarence Muzyamba tells Money FM News that there is also need for the country to have progressive taxation systems, investment in social protection programs and support for local entrepreneurship.

Mr. Muzyamba notes that the recent debt restructuring measures have resulted in high taxes, increased cost of living and reduced disposable income, among other economic challenges.

He has since urged government to reconsider its approach and prioritize pro-poor alternatives that safeguard the welfare of vulnerable populations.

In his 2025 budget speech, Finance Minister Dr. Situmbeko Musokotwane revealed that the Central Government external debt stock as at end of June 2023 increased marginally by 0.8 percent to US$14.07 billion from US$13.96 billion in December 2022, largely due to disbursements by guaranteed external debt.