IMF Resident Representative, Eric Lautier, says Zambia’s borrowing pace between 2014 and 2019 was exceptionally high, resulting in the external debt almost quadrupling during that period. Meanwhile, Green Economy Minister Mike Mposha says climate variability reduces Zambia’s GDP growth rate by 0.4 percentage points per year, costing the country $4.3 billion over a 10 year period. Speaking at the ongoing 2024 EAZ National Economic Summit, Thursday, Lautier said economic mismanagement led to a ballooning debt in Zambia. “Economic mismanagement and inefficiency led to a ballooning debt in Zambia. Spending overshot the budget allocation. Zambia’s borrowing pace during this period was exceptionally high. External debt almost quadrupled between 2014 and 2019. This founded excessive public investment projects sometimes at very large...