Home Business and Technology Zambia’s external debt hits 12.74 billon dollars

Zambia’s external debt hits 12.74 billon dollars

Bank of Zambia

Government says Zambia’s external debt remains at 12.74 billion dollars, contrary to claims that the debt was 27 billion dollars as of 2019.

The Ministry of Finance says the 12.7 billion dollars was as of the end of December 2020.

A statement availed to ZNBC News by the Ministry in Lusaka today states that some media reports made the 27 billion dollars debt claim, following a misrepresentation by the World Bank’s International Debt Statistics published in October 2020.

The statement notes that the 27-billion dollars debt refers to all external debt including debt held by the private sector such as mining companies, banks and other corporates which government is not in charge of.

The Ministry notes that government has no liability for debt held by the private sector.

It adds that the World Bank’s report makes it clear that government external debt was around 11-billion dollars in 2019 similar to what government reported.

The Ministry further notes that Zambia engaged in positive and constructive virtual talks with the International Monetary Fund earlier this month, making clear progress towards an agreement on a policy package and path to fiscal and debt sustainability.

The statement further states that the country hopes the current engagements with various multilateral stakeholders will contribute to its goal of restoring public debt sustainability.


In Other News: Male prisoner and female guard s.e.x tape go viral – Video

The Department of Correctional Services said it was embarrassed after a video was circulated online showing a female officer engaging in s_exual intercourse with an inmate.prisoner

“A video with flustering scenes of alleged s_exual activity between an official and an inmate at the Ncome Correctional Centre, KwaZulu-Natal Region, has left the Department of Correctional Services appalled, embarrassed and gutted,” departmental spokesman Singabakho Nxumalo said in a statement.

“S_exual activities between inmates and correctional officials are shameful incidents that can never be ascribed to what is expected of our officials.” Watch the video here