Public debt soars to k2.9 trillion - The Nation Online: "Public debt soars to k2.9 trillion
Grace Phiri June 11, 2018 0 Comments
The International Monetary Fund (IMF) has said while the rising public debt, now at K2.9 trillion, is not too surprising given primary fiscal balance deficit performance in the 2017/18 financial year, fiscal authorities should tread carefully on the recent trend of a shift of debt composition toward domestic debt.
Speaking in an interview yesterday, IMF resident representative Jack Ree observed that the trend is not good because domestic debt is far more expensive than the external debt.
He said: “As highlighted lately, 2017/18 was a difficult year in terms of fiscal management. The budget implementation suffered both spending overrun, including one caused by Admarc bailout, and revenue shortfall. The recent trend of a shift of debt composition toward domestic debt, is however, not good because in the past, domestic debt was also a driver of runaway inflation and instability of kwacha"
'via Blog this'
Grace Phiri June 11, 2018 0 Comments
The International Monetary Fund (IMF) has said while the rising public debt, now at K2.9 trillion, is not too surprising given primary fiscal balance deficit performance in the 2017/18 financial year, fiscal authorities should tread carefully on the recent trend of a shift of debt composition toward domestic debt.
Speaking in an interview yesterday, IMF resident representative Jack Ree observed that the trend is not good because domestic debt is far more expensive than the external debt.
He said: “As highlighted lately, 2017/18 was a difficult year in terms of fiscal management. The budget implementation suffered both spending overrun, including one caused by Admarc bailout, and revenue shortfall. The recent trend of a shift of debt composition toward domestic debt, is however, not good because in the past, domestic debt was also a driver of runaway inflation and instability of kwacha"
'via Blog this'
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