House of Chiefs hopeful debt restructuring deal would quicken economic growth


The House of Chiefs says the debt restructuring agreement will pave the way for increased investor confidence and stimulate economic growth.

Chairperson, Chief Chisunka, stated that this would also attract the needed investment into various sectors of the economy.

Chief Chisunka, who is also Chairperson for the Luapula Province Chiefs Council, said this in a statement issued in Lusaka on Saturday.

He argued that with a more favorable debt profile, there would be accelerated progress in the implementation of developmental projects aimed at uplifting the lives of all Zambians.

“On behalf of the House of Chiefs, I extend warm congratulations to President Hakainde Hichilema and the Zambian government on successfully negotiating a debt restructuring deal,” the traditional leader said.

Chief Chisunka stated that the debt restructuring agreement marked a significant milestone in the country’s economic recovery journey.

Read More: G20 official says valuable lessons abound from Zambia’s successful debt restructuring experience

He noted that the reduction of debt burdens and the renegotiation of terms would undoubtedly provide the needed relief to the economy, create a more stable financial environment conducive to growth and prosperity.

“As traditional leaders, we recognize the importance of sound economic policies and initiatives that promote sustainable development and improve the livelihoods of our people,” the traditional leader said.

He reaffirmed the group’s commitment to working closely with the government to ensure the successful implementation of policies and programmes that benefit the communities.

“We look forward to witnessing the tangible benefits of this debt restructuring deal and remain optimistic about the future of our beloved nation,” Chief Chisunka said.

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