Zambia: COVID-Nomics - Ng'andu Injects K810m to Ease Liquidity Pressure

The Government has released K810 million to unlock the current tight liquidity condition in the economy, much of it induced by the effects of the coronavirus.

Finance Minister Bwalya Ng'andu said yesterday the Government had already released K170 million to commercial banks to clear third-party arrears.

Dr Ng'andu also announced the additional release of K140 million to settle various road contractors.

Giving an update on the economy yesterday, Dr Ng'andu said the package was part of the K2.5 billion, which had previously been announced by President Edgar Lungu in his last address to the nation.

He said that about K500 million had also been released to the Public Service Pensions Fund to pay over 1,500 retirees.

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More From: Times of Zambia

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