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Understanding the True Extent of Zambia’s Total Debt

by Eric Olander

There’s been a lot of confusion in recent weeks about just how much Zambia owes its creditors. Most international news coverage focuses on the amount of external debt, believed to be around $12 billion, but that’s less than half of what the country owes when other creditors are included.

The Zambian economics blog “The Republic Observer” published a helpful guide on the country’s debt. It looks at the mix of external debt, domestic debt, and large amounts of back payments known as arrears that are owed to various creditors.

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