Zambia’s Central Government external debt stock has reduced by five percent to 15.36 billion U.S. dollars as at the end of June 2026, from 16.15 billion dollars recorded at the end of December 2025.
The Ministry of Finance and National Planning says the decline was mainly driven by the Liability Management Operation undertaken during the second quarter of 2026.
The operation included the partial repurchase of Eurobond obligations through an African Development Bank-supported debt-for-energy conversion.
Meanwhile, domestic debt increased by 6.68 percent to 270.67 billion Kwacha as at end-June 2026, from 253.73 billion Kwacha recorded at the end of December 2025.
The Ministry says the increase was largely driven by the continued issuance of Government securities to finance budget requirements in line with the 2026 Annual Borrowing Plan.
By Rachel Mumba
