The country spent US$368 million from January-September 2024 servicing its foreign and loca debtsl.
As a share of total spending and net lending, what was spent on debt servicing (13.8%) is more than what government spent on health (7.4%) and education (12.3%).
Apparently, the country is planning to sell some state enterprises to service debts.
The country’s staggering debt is estimated at close to 90 percent of the Gross Domestic Product posing a danger to national and economic development.
Zimbabwe’s key creditors are World Bank, African Development Bank and Paris Clubs.
Zwnews
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