Zambia’s Green Paper projects K212.2bn debt service for 2027–29, K68.4bn due in 2027
On 27 September 2026 the Ministry of Finance published a 2027–2029 Medium-Term Budget Green Paper projecting K212.2 billion in debt service over 2027–29, with K68.4 billion due in 2027 (about 6.8% of GDP). The front‑loaded profile raises near‑term refinancing pressure on Zambia’s domestic and external debt.
The desk brief
On 27 September 2026 the Ministry of Finance published a 2027–2029 Medium-Term Budget Green Paper projecting K212.2 billion in debt service over 2027–29, with K68.4 billion due in 2027 (about 6.8% of GDP). The front‑loaded profile raises near‑term refinancing pressure on Zambia’s domestic and external debt.
The Green Paper’s K68.4bn 2027 payment concentrates near‑term cashflow needs and could raise rollover risk around the belly of the Zambian curve, increasing the importance of extending maturities and concessional financing. Official‑creditor coordination and domestic debt strategy will influence whether this profile forces market refinancing, liability management operations, or shifts in the government’s domestic borrowing mix.
Consultation deadline for the Green Paper (October 9, 2026) and the 2027 national budget presentation to Parliament.
Sources & verification
Developing storyFurther independent confirmation is required.
- ZAMBIA TARGETS AN AVERAGE OF 7% GROWTH AS GREEN PAPER SHIFTS POLICY FROM STABILIZATION TO EXPANSION - The Zambian Observerzambianobserver.comSource published (opens in a new tab)
- Zambia : Zambia To Spend K212 Billion Servicing Debt Over Three Years,lusakatimes.comSource published (opens in a new tab)
Public references supporting this brief.
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- Zambin 33Jun 203396.7506.354%
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