/ 26 July 1999

ZAMBIA DEBT SKY HIGH

ZAMBIA has one of the highest debt burdens in the world and the highest debt ratios among non-warring nations according to the latest 1999 UNICEF Progress of Nations Report. The report which was launched at Lusakas Hotel Intercontinental on Thursday states that Zambia has invested 13% of its Gross Domestic Product (GDP) in the social sector while 40% goes towards debt servicing. The report puts Zambias debt as seven times more than its GDP. As a result of this scenario the countrys growth is retarded.