For the last 10 years, the ruling Patriotic Front (PF) has preached pro-poor policies with the majority of Zambians hanging on to the hope of earning more money, securing more jobs and paying less taxes. However, they are now a disgruntled lot.
Major public debt
With the national debt at 118% of the GDP, the Zambian economy is in a tailspin. Ordinary people are bearing the biggest brunt as the government struggles to fund social sectors and the cost of living skyrockets, rendering essential commodities – including food – beyond the reach of most Zambians.
So, these beautiful roads and bridges have been done, but related to what? The value of the kwacha has weakened to levels last seen in the 1990s and this has made everything expensive, the country is on its knees.
Zambia’s external debt is estimated at $12.78bn and the country defaulted on payment since October last year, with no
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
Already a a subscriber Sign In