The Consumer Unity Trust Society has attributed Zambia’s escalating debt to loopholes in the public debt legal framework.
CUTS Programs Officer Kangwa Muyunda says sound legal framework for public debt management is key to managing debt which is currently affecting the Kwacha.
She adds that poor management of high debt erodes investor confidence.
And Zambia Institute for Policy Analysis and Research Fellow Florence Muleya says government needs to strengthen requirements of the sinking fund to partly address the challenge of rising debt.