Going “deep” into debt

D4

HIGH RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD 19.32bn (World ranking 114, World Bank 2020)
Population 18.38mn (World ranking 64, World Bank 2020)
Form of state Republic
Head of government Hakainde Hichilema
Next elections 2026, General election
  • The government already heeds advice on increasing investment and diversifying the economy
  • Sizable land and water resources should help to develop agriculture and increase productivity
  • Business climate should be improved, but is already good enough to attract new foreign investment
  • Succeeds in funding increasing financing needs despite the failure to reach an agreement with the IMF
  • Political risk: threats to foreign interests in the country, particularly in the highly strategic mining sector
  • High reliance on copper exports (69% of total)
  • Capital stock (110% of GDP) too low to spur higher growth rates on the long-run
  • Fiscal deficit and difficulty to raise higher fiscal revenues
  • Debt had increased: higher debt allows lower flexibility to finance massive infrastructure projects with debt. Lack of transparency has raised the issue of hidden debt

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
China 30.7%
1
31.9% South Africa
Switzerland 22.3%
2
14.0% China
Namibia 8.8%
3
11.1% Congo, Dem. Rep. of the
Dem. Rep. of the Congo 8.4%
4
9.9% UAE
Singapore 8.0%
5
4.9% India

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Non-ferrous metals 71.8%
1
8.8% Petroleum, petroleum products and related materials
Non metallic mineral manufactures 4.8%
2
6.9% Road vehicles
Metalliferous ores and metal scrap 3.5%
3
6.2% Metalliferous ores and metal scrap
Tobacco and tobacco manufactures 1.9%
4
6.0% Specialised machinery
Iron and steel 1.8%
5
4.9% Other industrial machinery and parts
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