Zambia budget creates risks for debt sustainability

Bwalya Ng'andu, minister of finance, Zambia

Zambia’s 2020 budget could increase risks to the sovereign’s external debt sustainability unless new sources of grant funding or concessionary lending are found, Fitch Ratings has warned. The ratings agency said the budget envisages a significant increase in such funding but does not identify the likely sources. “The budget forecasts a revenue increase to 22% of GDP, driven by expected…

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