Zambia’s 2024 Annual Borrowing Plan (ABP): What you need to know.
The Ministry of Finance and National Planning published the 2024 ABP alongside the 2024 National Budget. Publication of the plan is required under section 8 of the Public Debt management Act no. 15 of 2022 (the Act).
The Act is part of Zambia’s response to enhancing debt management having learned lessons from the debt management challenges of the recent past.
I discuss in brief:
- An overview of Zambia’s debt profile and its evolution over time;
- The objectives of the Act and how the ABP fits into the picture. Note that I focus mainly on the aspects of the Act that promote debt transparency and accountability;
- Why Zambia still needs to borrow and the nature of the planned borrowings in 2024;
- The impact of Zambia’s debt restructuring on the 2024 annual budget;
- Positive observations, areas of improvement and opportunities as they relate to Zambia’s 2024 borrowing plan.