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Thursday, 17 April 2014

Debt Worries

“Our debt situation is becoming unsustainable and if you look at the country’s economic report of last year, the external debt is at US$3.5 billion, and if you look at the Bank of Zambia first quarter report states that the total amount of domestic borrowing is K20.7 billion and if converted will give you another US$3.5 billion bringing the total debt to US$7 billion which the country has as at now....By the end of the year both local and external debts would be about US$11 billion which is unsustainable because it [would be] above half of our equity of the country’s GDP which stands at US$25billion, according to the current CSO statistics which they are now using"
Economist | Politician

(Source : Daily Nation)

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