The Economics Association of Zambia (EAZ) President, Oswald Mungule, has announced that stakeholders will convene to, among others, address the issue of external debt using disaster financing.
Dr. Mungule highlighted that the country is facing challenges related to external debt and emphasized the need to explore the possibility of utilizing disaster financing as a sustainable solution for managing long-term debt.
He emphasized that the EAZ will be hosting the 2024 Economic Summit on July 25th and 26th at Ciela Resort in Chongwe District, Lusaka.
“The other side of the problem that the country is facing is external debt. We are also looking at using the disaster funding to sort out the external debt. This is an innovation that the EAZ is talking about. How can we use the disaster funding to which is more sustainable to sort out the long term debt of the country. We will invite funders to the summit to fund sustainable development projects. We want to encourage sustainable energy, agriculture and construction at the summit,” he said.
Dr Mungule said the summit aims to provide a platform for collaboration between the government, industry players, and stakeholders to analyze strategies for navigating disasters, fostering economic resilience, and driving economic recovery through partnerships and innovative approaches.
He said the summit will focus on the theme of “Pioneering Zambia’s Sustainable Economic Transformation through Climate Change Adaptation and Sustainable Financing Mechanisms after Debt Restructuring.”
Dr Mungule extended an invitation to participate in the summit, emphasizing its focus on sustainable development, climate change adaptation, and innovative financing mechanisms.
The EAZ President said the summit will delve into the latest insights on the IMF Program and Zambia’s Economic Outlook for 2024 and beyond, offering an exclusive opportunity to engage with industry experts and gain valuable insights into the dynamic economic landscape.
This is contained in a statement issued by the Economics Association of Zambia (EAZ) Acting Chief Executive Officer, Tendai Posiana.
