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Zambia to issue $440 million coronavirus bonds for economic stimulus

Christian Fernsby |
Zambia plans to issue a K8 billion ($440m) coronavirus bond whose proceeds would go towards paying suppliers, retirees and contractors.

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Topics: ZAMBIA   

Cabinet approved in principle the establishment of a K8 billion economic stimulus package that will be financed through the issuance of the coronavirus Bond.

Cabinet sources say the allocation will go towards payment to retirees, contractors and suppliers.

Cabinet resolved that it is necessary to provide an economic stimulus through the issuance of the coronavirus Bond in order to improve the liquidity levels in the economy that have reduced due to the Coronavirus pandemic.

Coronavirus bond will be additional intervention from the April central bank stimulus package and May benchmark interest rate cut to boost growth.

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