Zambia-Economy

Zambia's Finance minister fired

APA-Lusaka (Zambia)

Zambia’s Finance minister Margaret Mwanakatwe has been sacked by the country’s President Edgar Lungu, offering no reason for removing her from his cabinet, 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 which comes against a backdrop of 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.

WN/as/APA


WN/as/APA

React to this article