Debt Restructuring Saves Zambia $1.4 Billion Annually

By Mark Ziligone and Ellen Hambuba President Hakainde Hichilema says Zambia's debt restructuring programme has delivered significant savings and restored confidence in the country's economy. Speaking during the launch of the UPND Manifesto and Development Agenda for 2026 to 2031 in Lusaka, President Hichilema said one of the government's biggest achievements since taking office has been the successful restructuring of Zambia's external debt. President Hichilema said following the debt restructuring programme, annual debt service obligations have been reduced to approximately 900 million dollars, resulting in savings of about 1.4 billion dollars every year. The President said the savings have created fiscal space for the government to continue funding priority programmes such as free education, healthcare delivery, social protection and infrastructure development. President Hichilema further revealed that the government has moved to the next phase of debt management through the buyback of the remaining Eurobond, describing the initiative as a major step towards reducing the country's debt burden even further. #HakaindeHichilema #DebtRestructuring #EconomicRecovery #EurobondBuyback #UPNDManifesto #FiscalSpace #ZNBCNews