As part of its economic reform program aimed at restoring fiscal sustainability, the Zambian government has imposed a freeze on non-concessional external loans. This strategic move necessitates a significant shift in the government’s borrowing practices. Currently, Zambia relies on external and domestic financing
in a 70:30 ratio, but it aims to rebalance this to 45:55 by 2025, favoring domestic borrowing. Hence, in this week’s edition of Monday Opinion, we delve into an in-depth exploration of Zambia’s domestic debt landscape and its role in the nation’s domestic resource mobilization efforts.