Bwalya Ng’andu updates creditors on Zambia’s total debt

Zambia’s total debt as at December 2019 stands at 18.5 billion dollars, representing 104 percent of Gross Domestic Product.

Finance Minister BWALYA NG’ANDU says the debt has negatively impacted Zambia’s ability to advance social and economic initiatives, especially in the current COVID-19 environment.

He said this when he made a presentation to international creditors on Zambia’s debt situation.

Dr.Ng’andu says of the 18.5 billion dollars, 4.7 billion dollars or 7.7 billion  Kwacha is domestic debt while the remaining 13.8 billion dollars is external debt.

He however noted that the direct government external debt stock has increased from 11.54 billion dollars in December 2019 to 11.97 billion dollars in June 2020.

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