Zambia sinks deeper in external debts

By Agence France-Presse

Oct 09, 2021 12:04 am

LUSAKA: Zambia's newly elected government on Thursday (Friday in Manila) said it owed $2 billion more to foreign creditors than previously thought with more than $6-billion owed to China alone.

The resource-rich but impoverished African nation said external debt stood at $14.48 billion at the middle of the year — more than 60 percent of gross domestic product.

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