Local News

$33bn debt lies exposed

By BUUMBA CHIMBULU

Suggestions that the Government has contracted US$33Billion debt, has been described as a complete fabrication.

The US$33billion debt disclosed by the World Bank,  according to Ministry of Finance Permanent Secretary, Mukuli Chikuba was  a combination of amounts owed by the Zambian government  and  private sector including mining companies, corporates and the banking sector

Zambia’s public debt, he said, remained at US$11 billion as opposed to some speculators who have misinterpreted the 2021 World Bank’s International Debt Statistics report.

He regretted that most people were reading the WB report without understanding the details.

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