Debt stands at $12.9 billionBy OLIVER SAMBOKOTHE UPND government says the national external debt stands at $12.9 billion.Giving an update on the state of the economy in Parliament yesterday, Minister of Finance and National Planning Situmbeko Musokotwane disclosed that the country’s external debt stands at US$12.9 billion plus $1.57 billion owed by parastatals.He also said there is also a substantial domestic debt including arrears to suppliers that the government must deal with.Mr Musokotwane said the total debt as at the end of June 2021, stands at US$14.48 billion.Mr Musokotwane said the huge payments of external debt drained money out of the economy, leading to closure of many businesses due to absence of demand.He accused the PF government of the excessive borrowing undertaken during the last ten years they were in power.He said the ballooning of external debt from less than $2 billion in 2011 to its current levels of about US$14.5 billion reflects the worst […]
Debt stands at $12.9 billion
