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THE Jesuit Centre for Theological Reflection (JCTR) has urged management of Blackrock and other private commercial creditors to think of the poor Zambian majority and restructure Zambia’s debt as a matter of urgency to allow the country move on the right trajectory in terms of the economy.

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JCTR Executive Director Alex Muyebe says it is well understood that commercial lenders are in business and need to make profit but he has appealed to them to be considerate that there are people who are suffering as a result of the debt owed to them.

In July, Zambia’s official debt committee announced that it had agreed to a debt restructuring deal with the Zambian government and the International Monetary Fund (IMF) announced that it would go ahead with a previously agreed US$1.4bn extended credit facility.

Stakeholders are however concerned that despite this progress, commercial creditors such as Blackrock delay to restructure Zambia’s debt will lead to government not having money to lift its people out of poverty.

Father Muyembe says commercial and private creditors, should be considerate of poor people and put a human face to the issue of debt owed to them, to allow the poor move away from poverty.

Father Muyembe said this in an interview with Millennium Radio News.



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