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Zambia’s Finance minister fired
5:35 CAT | 15 Jul 2019
Zambia’s Finance minister Margaret Mwanakatwe has been sacked by the country’s President Edgar Lungu, local media reports in Lusaka on Monday suggests.
President Lungu has since appointed the deputy governor of Zambia’s Central Bank, Bwalya Ng’andu in her place.
Lungu’s government offered no reason for Ms. Mwanakatwe’s sacking on Sunday although there is a general disquiet over the country’s rising debt.
Since its foreign debt doubled five years ago, Zambia has been struggling to service it and with costs forecasted to rise by 90 percent later this year, the national economy is bracing up for more torrid times ahead.
Source: APA
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