External Debt Rise Manageable, For Now

BMI View: Zambia's external debt position, while having taken a shock in 2015, will stabilise over the next several years as the country brings in its fiscal deficit. Nevertheless, as the kwacha depreciates there is no room for further fiscal mismanagement and borrowing to cover budget deficits.Zambia has issued a new eurobond worth USD1.25bn, taking its total external debt stock to USD6.1bn, equivalent to around 26% of GDP. According to finance minister Alexander Chikwanda, domestic...

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