Zambia National Union of Teachers – ZNUT says it is yet to agree with government on the way forward concerning the issue of debt swap. The teacher Union has also called on some banks that are yet to refund the deductions to do so soonest.
ZNUT General Secretary Newman Bubala said the debt swap issue has been referred back to negotiations as it is a collective agreement issue, therefore the union is hopeful that next week when negotiations begin, the debt swap issue will be discussed and an agreement will be reached on how to deal with the matter.
Bubala said the union will hear from government and the banks if there are any concerns and be able to make adjustments noting that what the union proposed what was existing which was then suspended, but the best way to handle the issue is to negotiate.
Speaking in an exclusive interview with the Zambian Business Times – ZBT, Bubala said signing the collective agreement was the best way to restructure the loans and reiterated that debt swap is not debt cancellation.
He said there might be concerns from government and the banks on the matter, therefore adjustments may have to be made when the parties involved conclude the negotiations and reach an agreement. He noted that some banks have not refunded the civil servants but ZANACO has refunded and he is hopeful that other banks will do the same soon.
The debt swap has become a highly emotive issue among civil servants that had seen the UPND government u-turn after it had unilaterally cancelled the deal that had been entered into between government and some unions.
