The North Western Chamber of Commerce and Industry has urged government to disclose the full details of the debt restructuring programme.
Chamber President Kayula Lombanya says government should also be constant in updating the nation on bilateral agreements with private creditors if the general citizenry is to fully appreciate the implementation of the debt restructuring programme.
She has also called for better terms with creditors by ensuring that measures among them parliament approving loans must be adhered to for government to borrow for capital projects that will be generating revenue.
Ms. Lombanya notes that with a debt restructuring programme in place, government has a window to spend or invest the capital saved on servicing the external debt.
She however states that if government spends on immediate consumption, such as wages, rather than investing in capital projects, the economy is unlikely to experience long term prosperity from its returns on the projects.
Last week, government announced a $6.3 billion debt restructuring deal for its public sector creditors after the creditors agreed in principle to reschedule over 20 years, $6.3 billion, including $1.3 billion in arrears, with a 3-year grace period for repayments of principle.
