FINANCE deputy minister Keith Mukata yesterday told Parliament that Zambia’s external debt currently stands at about US$ 3. 2 billion as at September 1, 2013.
Mr Mukata told the House that Zambia’s external debt in September 2011 stood at US $1. 7 billion.
Mr Mukata said the internal debt currently stands at K17. 8 billion as at September 1, 2013, compared to the K13.8 billion as of September 1, 2011.
He said to avoid plunging the country into more speculative debate the ministry, according to the debt management strategy, conducts the Debt Sustainability Analysis on annual basis to determine Zambia’s debt carrying capacity and fiscal space for new borrowing.
Mr Mukata said this when MMD Chembe MP Mwansa Mbulakulima asked the minister of Finance what Zambia’s external and internal debt was on September 1, 2011 and September 1, 2013.
Mr Mbulakulima also wanted to know the steps that Government had taken to ensure that Zambia does not slide into another debt trap.