Since PF came to power Zambia's external debt is nearly double what it was 2 years ago (The chart below is in fact an underestimate because it has no 2013 figures). In 2012 alone, Alexander Chikwanda borrowed a staggering 14 times abroad! We are paying nearly $300m annually in debt repayments, and that figure is rising everyday.
For related discussions on Zambia's rising debt and what can be done see here.
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Chola Mukanga | Economist
Copyright © Zambian Economist 2013
Hi Cho,
ReplyDeleteIt's been way too long. I hope you and your wife are doing great.
Looking at this data, it looks like nearly all the debt increase is in the post Suppliers/Bank/Export, which tripled from 448.7 to 1,557.9 (up 1,109.2) and made total debt go from 1,980.0 to 3179.6 up (1,199.6).
What is in that post?
Its been long indeed! Doing well! Thanks!
DeleteThat includes the Eurobond ($750m) plus other Chinese loans.
Multilateral funding is also up.