Dodia urges govt to prioritize servicing of debt

Economist Yusuf Dodia says the next government should address the issue of both domestic and external debt if Zambia’s economy is to get back on track.

Yusuf Dodia

Mr. Dodia has told QFM Business News in an interview that currently, Zambia’s external debt stands at US$9 billion with domestic debt standing at K5 billion which he says is too much.

He says the country’s debt is putting pressure on the economy; hence the need for the next government to focus on addressing the issue of debt in a bid to improve the economy.

Mr Dodia has also observed that Zambia is running a national budget that has a strong leaning towards repaying both domestic and external debt.

He says the country has gotten in a financial mess due to the increase in its debt.