Malawi’s debt stock has risen to unprecedented K6.38 trillion, up by 13 percent.
Finance Minister Sosten Gwengwe
The debt stock was at K5.65 trillion in 2021, which is equivalent to 62 percent of 2021/22 GDP, according to the Annual Public Debt Report of 2021 to 2022 by the Ministry of Finance and Economic Affairs.
According to the report, at the end of March 2022, SD3.64 billion or 29 percent of GDP was external debt while the total domestic debt amounted to K3.41 trillion, up by 33 percent from K2.56 trillion registered as at end of June 2021.
The report has attributed the increase to high deficit in financing and debt refinancing requirements during the period.
