Zambia converting debt into marketable securities

The Zambian government has converted part of its long term debt owed to the Bank of Zambia (BoZ) into short-to-medium term marketable government securities in a move to boost the central bank's scope for liquidity management in the economy, the Times of Zambia reported on Wednesday 6 December.

Secretary to the Treasury Evans Chibiliti was quoted by Times of Zambia on Wednesday as saying that the government and the bank agreed that 525.8 billion kwacha (131 million U.S. dollars) from the long t