Zimbabwe is now sitting on a deep rooted social and economic crisis with its national debt; both domestic and external, ballooning to USD$18 billion due to a porous public finance management system and non-procedural loaning system, Zimbabwe Coalition on Debt and Development (ZIMCODD) executive director Janet Zhou has said.
Giving her keynote address during the Media Training on the Debt Discourse in the capital, Zhou described the sharp rise in debt as worrisome with the government’s appetite on spending showing no signs of remorse.
