Zambia’s debt portfolio hits over USD&14BN

…but Finance Minister Dr Situmbeko Musokotwane has assured of sustainability within the country’s financial ratios By GIDEON NYENDWA FINANCE and National Planning Minister Dr. Situmbeko Musokotwane has revealed that Zambia’s current debt portfolio has hit over US$14 billion. Speaking during the “Let the People Talk” programme on Phoenix FM yesterday, Dr. Musokotwane reassured the public that the country’s debt level remains sustainable within the accepted financial ratios. Dr. Musokotwane emphasised that the debt position ali gns with the nation’s current exchange rate, foreign reserves of US$4 billion, and tax revenue collections. “The debt level is well assessed to be sustainable. As the economy grows, we will continue borrowing, but this will be done responsibly and within the set parameters,” he said. Responding to claims that the UPND government had accumulated more debt in three years than the PF did in seven years, Dr. Musokotwane refuted the allegations, stating that the new dawn was a responsible […]