Zambia: Govt Borrows Another U.S.$2 Billion Eurobond, External Debt Swells to U.S.$6.8 Billion

On behalf of Zambia, the PF government will today issue (borrow) a 10-year Eurobond of as much as $2 billion on to fund a widening budget deficit.

The additional $2 billion debt will push Zambia's external debt to $6.8 billion from the current $4.8 billion. This means that Zambia's external debt will surpass the debt acquired by the UNIP and MMMD of Fredrick Chiluba. When Levy Mwanawasa took over as president, Zambia's external debt was US$6.2 billion.

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