President Hakainde Hichilema Has Welcomed a moody’s ratings

President Hakainde Hichilema Has Welcomed a moody’s ratings projection that Zambia and Ethiopia will Record the Largest Reductions In Government Debt In Sub-Saharan Africa.

President Hichilema says the projection reflects the difficult decisions made by government and the patience and sacrifice of the Zambian people.

He says reducing public debt is central to the Grow Zambia Agenda, as it will allow more resources to be directed towards job creation, investment and improved incomes.

The President says Zambia has also reached a staff-level agreement with the International Monetary Fund on a new one-point-four-seven-two billion US dollar Extended Credit Facility to support the country’s transition from economic stabilisation to growth.

He says Moody’s has also listed Zambia among eight countries in sub-Saharan Africa with a positive outlook.

President Hichilema, however, says the cost of servicing the country’s debt remains high, stressing that government will maintain fiscal discipline under the new IMF program.