Further to this, there has been progressive legal reform to remedy the debt situation through the enactment of the Public Debt Management Act, 2022 to improve Zambia’s debt management by providing loan and debt contraction guidelines that align the legal framework to the constitution. This Act is important because it addresses the inherent weaknesses in the legal framework of public debt management.
Based on this background, CUTS in collaboration with the Open Society Foundation (OSISA) is implementing a two-year project that runs from 2021-2023, which seeks to highlight the inter-linkages that exist between Zambia’s debt situation and its ultimate impact on social sector spending.
This project intends to strengthen coordinated advocacy strategies among political parties, CSOs, rural communities, the media, and the youth while allowing for in-depth knowledge and awareness raising on social sector spending, debt oversight, sustainable debt management strategies as well as the opacity surrounding Zambia’s public debt.
This will reinforce the role that these stakeholders play to ensure that the legislation, policies, and their implementation delivers on efforts to reduce poverty, improve welfare and escalate the accumulation of human capital for the most vulnerable, in line with leaving no one behind.