Mutati finally ‘clarifies’ Zambia’s external debt in parliament


It took a point of order for Felix Mutati to tell parliament that he gave wrong figures on the country’s external debt.

And Mutati has maintained that ZRA failed to meet targets in the past five months.

Mutati now claims that Zambia’s external debt is $7.2 billion instead of the $17.2 billion he revealed 2 weeks ago.

‘Mr. SPEAKER, I make reference to the point of order raised by the Honourable Member of Parliament for Kantanshi, with regard to the debt position and revenue performance.
SIR, Zambia’s debt position as at end May 2017 amounted to US$7.2 billion as indicated in my written statement which I laid on the table of this august House on 21st June, 2017.
The US$7.2 billion was unfortunately misread as US$17.2 billion, a mis-statement that is deeply regretted,’ Mutati said in parliament

There are concerns that Zambia’s external debt is actually $17.2 billion as stated by Mutati earlier but this revelation embarrassed and angered the PF who have forced Mutati to ‘retract’.

Meanwhile, Mutati has maintained that ZRA failed to meet its targets.

‘For the first five months to May 2017, revenues collected including domestic taxes amounted to K16.67 billion against a budget amount of K18.46 billion representing a 10 percent underperformance on aggregate,’ Mutati said in parliament.

When Mutati said this two weeks, the ZRA reacted sharply and claimed it actually beat the target by more than K500 million.

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