SECRETARY to the Treasury, Felix Nkulukusa, says some institutions resisted government efforts to have their debt restructured. And Nkulukusa says some suppliers were willing to reconcile their debt and cut loans owed by government institutions, but some government officers were against the cancellation of those contracts. The Auditor General’s report on Zambia’s external debt stock for the financial years ended December 31, 2006 to 2022 revealed that the country’s external public debt increased from US$1.019 billion in 2006 to US$14.071 billion in 2022. Appearing before the Parliamentary Select Committee on Public Debt, Thursday, Nkulukusa noted that some controlling officers wanted to claim innocence by giving different reports to the parliamentary committee. “This is one of the bigger challenges I have…
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