Out of 23 Countries surveyed by Central Intelligence Agency Annual World FactBook, there are five African Countries that have acquired more debt than Zambia.

Zambia with a 7.2 billion United States dollars external debt is not on that list.

On That List Are Mozambique, Cape Verde, Sao Tome and Principe, Eritrea And Egypt.

This is according to an online publication on the website of the Zambia Business Times and monitored by 5FM RADIO.

The factbook uses the level of gross government debt as a percentage of ‘GDP’ to indicate how able a country is to pay back debts without incurring further debt.

Topping The List Is Japan While Brazil Is Sitting On 23rd Position.

With the highest ratio of DEBT-TO-GDP which has seen its economy face a rapidly aging population and slow rates of growth.

Brazil is 23rd on the list amidst a crippling recession and facing down several huge political corruption scandals.


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