Africa Confidential Claims Zambia Is Owing Close To $20bn

AFRICA Confidential, a critical online publication headquartered in London, says it has information to the effect that the Zambian government is in negotiations with a Japanese fund for a $500 million loan to finance its huge infrastructure projects.

And the publication says Zambia’s massive infrastructure development projects started by Michael Sata in 2012, have now become an extravagant spending spree in President Edgar Lungu’s regime.

Meanwhile, the Africa Confidential (AC) says the Zambian government shows little will to prioritize spending during lean times while it struggles to address basic problems such as a shortage of doctors or to bail out its near-bankrupt state companies.

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