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Govt Hails $1 Billion Sovereign Bond
Zambia has successfully issued a second sovereign bond in the international capital market amounting to US$ 1 billion.
Acting Finance Minister Edgar Lungu in a statement issued to QFM News today says this amount is factored into the 2014 budget and the mid-term expenditure framework.
Mr Lungu says like the first sovereign bond issued in September, 2012, the second bond has been a resounding success.
He says the second bond, just like the first, was significantly oversubscribed, an expression and affirmation of the confidence the international investor community has in Zambia.
Mr Lungu says the bond proceeds will be targeted at growth prompting projects in the various critical sectors of the economy, namely the transport and energy sectors.
He adds that the resources from the international capital market will help to accelerate the Government’s development agenda which already has had an impact and is acquiring great momentum.
Mr Lungu further states that the huge investments in billions of dollars in mining ventures in new frontier areas, and in corporate agriculture, are clear testimonies of the efficacy of the PF government’s development agenda.
He says a team from the Ministry of Finance, Bank of Zambia and Ministry of Justice has over the past two weeks worked exceedingly hard to rally international investors behind the second sovereign bond.
Mr Lungu who is also Defence Minister adds that the team has been complemented by local and international lawyers and book runners Barclays Bank and Deutsche Bank.
Posted by
sko
April 8, 2014 at 8:23 pm
Another kaloba. Another debt trap. Another HIPC staus looming. But imwe ba PF tamumfwa. Bane…Are we really going to pay back these huge amounts?? why not just introduce windfall tax as promised and all these kaloba won’t be there. Awe mwandi kuti walwala mumala.
sko
April 8, 2014 at 8:24 pm
Another kaloba. Another debt trap. Another HIPC status looming. But imwe ba PF tamumfwa. Bane…Are we really going to pay back these huge amounts?? why not just introduce windfall tax as promised and all these kaloba won’t be there. Awe mwandi kuti walwala mumala.
jamakudi
April 8, 2014 at 8:28 pm
Kabimba for PRESIDENT 2016 on Pf ticket for more progress
icinshikululwa
April 8, 2014 at 8:50 pm
Imwe naimwe…;! This is the needful money for useful pipo of Zambia!
HH paid one billion kwacha (kr1m) to muvi tv. Is that useful?
What a leader, sefish; who is going to benefit from that?
Let Micheal do the needful!
GIFT
April 9, 2014 at 8:16 am
you must be related to George chella coz you speak dirty my friend
wisdom
April 8, 2014 at 8:52 pm
our money is in your pockets ledies and gentlemen thats why we are borrowing. Taking you to court will be political persecution so no option but to borrow
jamakudi
April 8, 2014 at 8:53 pm
Kabimba for president 2016.
Joseph mwamba
April 8, 2014 at 9:00 pm
@ichishikulwa talks nonsense most times. Is it HH borrowing? even sata is unaware coz he is too sick.
no test
April 9, 2014 at 7:46 am
Katwishi
icinshikululwa
April 9, 2014 at 2:10 pm
Aa aa! Its not me! But somebody told us on this midia how hh paid mvi tv one billion kwacha (kr1m).
But why paing in that way?
Why not in right way, for the rihgt reason?
So, yu want us to b cing a man who aspires to bcom the leader of our Nation to b Acting like INDOSHI? come on!
Isaac
April 9, 2014 at 2:22 pm
We need to borrow as a country if progress is to be realized. A massively developed USA has trillions of dollars in debt what more Zambia, do you think we can develop? What matters here is the capacity to pay back No country on this planet has ever developed without borrowing.
jamakudi
April 9, 2014 at 2:54 pm
Nearly $2 billion in 3years. We are in a debt trap. This is not a joke.
cecil
April 9, 2014 at 9:24 pm
@Isaac sense,borrowin hasnt started muli ba pf.Zambia z nt a rich country,so y nt borrowin?