Zambia’s Domestic Debt Rises to K54 Billion

Zambia’s external debt stock as at close of the third quarter was $US9.51 billion, up from $US9.37 billion at end of the second quarter of 2018.

The increase in the quarter was on account of payment of some new disbursement and debt service for three quarters of 2018 which amounted to $us545.02 million.

Addressing the media during the third quarter economic performance press briefing, Finance Minister, Margaret Mwanakatwe, said that the debt stock mainly of government securities, as at end of third quarter 2018 amounted to k54,6 billion from k51.9 billion at the end of second quarter 2018.

Mwanakatwe added that a total of k647.8 billion was paid towards domestic debt service and total guaranteed debt was at $1.2 billion as at end September 2018.

She further indicated that government acknowledges the rising vulnerabilities from its debt profile and is committed to the implementation of austerity measures to ensure movement back to moderate debt risk distress.

Mwanakatwe went on to say verified domestic arrears as at end of the second quarter stood at K14.7 billion compared Kl3.9 billion recorded at the end of quarter one of 2018.

Source: Zambia Reports

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