Zambia Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Zambia's government debt to gdp was 114.94% in 2024, ranked 178th globally. This represents a 10.9% decrease from 2023. Data from IMF WEO, covering 2000–2024.
Overview
Zambia's government debt to gdp stood at 114.94% in 2024, a decline of +14.12% from 2023. Zambia ranked 178th globally.
Zambia’s government debt as a share of GDP stood at 114.94 percent in 2024, ranking it 178th globally and placing it above close peers such as Canada (111.30 percent) and France (113.15 percent), though below the United States (122.32 percent). This reflects a sharp reversal from the nation’s lowest level of 18.90 percent recorded in 2010, which followed a dramatic decline from an all-time peak of 260.96 percent in 2000, largely due to debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Over the past two decades, the trajectory has shifted from sustained debt reduction to a renewed buildup, particularly after 2010, driven by increased borrowing for infrastructure and fiscal deficits, culminating in a sovereign default in 2020. Despite efforts to restructure its debt, Zambia continues to face elevated debt vulnerabilities amid sluggish growth and currency depreciation. The debt-to-GDP ratio is expected to remain high in the near term unless sustained fiscal consolidation, improved revenue mobilization, or additional debt relief measures are implemented.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2024 | 114.94% | −14.12% | #178 |
| 2023 | 129.06% | +29.58% | #181 |
| 2022 | 99.48% | −11.57% | #164 |
| 2021 | 111.05% | −28.95% | #171 |
| 2020 | 140.00% | +36.67% | #179 |
| 2019 | 103.33% | +22.17% | #178 |
| 2018 | 81.17% | +14.56% | #157 |
| 2017 | 66.61% | +5.45% | #139 |
| 2016 | 61.15% | −0.71% | #129 |
| 2015 | 61.87% | +28.01% | #134 |
| 2014 | 33.86% | +7.95% | #69 |
| 2013 | 25.91% | +0.99% | #52 |
| 2012 | 24.92% | +4.11% | #52 |
| 2011 | 20.81% | +1.91% | #37 |
| 2010 | 18.90% | −1.62% | #32 |
Detected Pattern
Analysis
Zambia matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Zambia's government debt to gdp was 114.94% in 2024. Ranked 178th globally. This represents a 10.9% decrease from the previous year.
Zambia's government debt to gdp peaked at 260.96% in 2000.
The lowest government debt to gdp in Zambia was 18.90% in 2010.
Zambia ranks 178th globally in government debt to gdp as of 2024.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
The government debt to gdp of Zambia in 2024 was 114.94%. This ranks 178th in the world.
Cite this page
@misc{historysaid_zambia_government-debt-to-gdp,
title = {Zambia Government Debt to GDP},
url = {https://historysaid.com/zambia/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}