Domestic Debt Management in Africa: The Case of Zambia
"This study has made a number of pertinent observations. Significant is that domestic debt in Zambia has, in the past five years, been increasing at a high rate in nominal terms but in GDP terms has been on the decline. This is against a background of several commitments by the Government to support the achievement of the overall macroeconomic stabilisation goals. This has resulted in the Zambian economy being well managed and resulting in an increase in the real GDP growth. The study has also noted the need for prudent management of domestic debt since it still constitute a large share of government expenditure. For example, the total domestic debt as a percentage of GDP stood at 9.4 percent as at end 2008."