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Zambia

Why is Zambia in debt?

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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.