Shadow of debt has not yet deterred Zambia’s investors
Issue 373 - 13 Jul 2018
An announcement by finance minister Margaret Mwanakatwe on 6 July that the government had completed a three-week investigation into its debt sustainability and “we know what debt we have and also we have shared the facts and figures with the [International Monetary Fund] IMF” illustrates how perilous its debt situation has become. A combination of inept governance and ugly politics means that President Edgar Lungu’s administration has lost credibility to the point that investors are sceptical of both its figures – the government claims to have $9.3bn of external debt – and its ability to get control of its finances.
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