Southern Africa’s top copper producer Zambia has reported a $23million infrastructure spend for the month of October. This was confirmed in a budget release brief by the MinFin on 19 Nov.
“Releases for capital expenditure totaled K233.2million of which K158.1million went to the roads sector for completion of some road projects and toll gates, K29.9million to the Rural Electrification Program for to increase electrification rates in rural arrears, and K45.1million to other capital related expenditures,” the release carried.
The copper producer this month in a stakeholder fiscal performance brief revealed an increased external debt position of $9.51billion (30 Sept.) compared to $9.37billion (30 Jun.). This increase was on account of additional disbursements in the period. Zambia is grappling with elevated debt stock which has stalled discussions with the International Monetary Fund – IMF.