MoF explains debt increase, decline in economic growth and IMF prospects

MINISTRY of Finance permanent secretary for budget and economic affairs Emmanuel Mulenga Pamu says there was an increase of domestic debt from K130.2 billion to K143.8 billion recorded at the end of December 2020. Speaking during a special meeting of the National Development Coordinating Committee (NDCC), on priority setting of the 8NDP, Friday, Pamu said the resources were used for government operations. “The external debt stock, we are still reconciling the figures for the first quarter but there isn’t much change from the end of 2020 figure, we have external debt standing at US$12.74 billion. Domestic debt, there was an increase of 10.46 percent to K143.8 billion compared to K130.2 billion recorded at the end of December 2020. So these…...