By Daily Revelation Reporter
Secretary to Treasury Felix Nkulukusa says the government does not want Zambian bonds to collapse because the government is “making noise” talking about ongoing discussions.
Nkulukusa said bond holders cannot say anything during the restriction and the government cannot say anything, adding that this is the way the market plays.
Last week, Kalaba held a press briefing where he said in the spirit of transparency, the government should issue a statement and advise the nation what the status of bond holders is and what available options are there for Zambia.
“We would like to request that the Ministry of Finance issues a statement and advises the nation what the status of bond holders is and what the available options are for Zambia. Seeing that we seem to have a standoff with the bond holders,” said Kalaba.
But when contacted for a comment by Daily Revelation Newspaper, Nkulukusa said, “So he wants us to issue that statement? Do you want the Zambian bonds to collapse because we are making noise? Transparent about what? What do you mean we haven’t shared? Didn’t we issue a statement?”
Nkulukusa explained that when parties go into restriction no one says anything when they fail to reach an agreement.
“Let me explain how the bond market operates. We go into a restriction no one says anything when we fail to reach an agreement. We have to go to the market so that everyone knows what is happening. And we did go to the market so if Mr. Kalaba wants us to say if we go into a restriction he wants us to be talking so that we fail, that is not the way it operates,” said Nkulukusa. “We go into a restriction we discuss, when we reach an agreement we announce, when we don’t reach an agreement we announce. Bond holders cannot say anything during the restriction and the government cannot say anything that’s how the market plays.”
