Zambia’s Public Debt Status post HIPC and MDR Initiatives

Concerns for public debt levels have continued to take centre stage in the last few years mainly in industrialized countries. The Euro zone is the latest to be engulfed in debt crisis following substantial increase in sovereign debt levels in a number of Euro zone countries such as Greece, Ireland, Spain, Portugal and Italy. There has consequently been a fear of contagion of the crisis to other countries including developing and emerging countries due to increased interconnectedness in the global financial system.