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Zambia warned against default on debt repayment

By NAMO PHIR

IF Zambia defaults on repayment of its external debt it will negatively affect investor confidence, Private Sector Development Association Chairman Yusuf Dodia has warned.

Mr Dodia said  a number of investors will lose confidence as it will see Zambia not to being a serious nation in dealing with economic matters.

He saids it will be prudent that the country does what it can to ensure that debt default is avoided at all cost.

With Zambia being the third largest producer of copper in the world, many investors have interest to bring more investment but debt default can discourage them.

The country defaulted on its payment on Eurobonds in 2020, creating confidence crisis among investors.

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