Asked in

Why is Zambia in debt?


User Avatar
Wiki User
March 09, 2010 11:06PM

The major reason why Zambia is in debt is because 90% of its people make less than $2 per day. In the late 1990's, Zambia was paying about a third of the value of its exports to repay its debt, but about that time Zambia began an intense economic reform program that involved a lot of privatization, and this helped to decrease their debt burden.