Debt & Extractives, a case of Zambia – by Chepa Twatasha Lesa, Caritas Zambia

To better understand the connection between debt and extractives,
Chepa Twatasha Lesa of Caritas Zambia, presents a case study of Zambia.
A country which is the 2nd largest copper producer in Africa and 7th in the world.
Zambia’s copper and cobalt contributes to 73% of Zambia’s copper and cobalt commodity exports;
31.4% of government revenue and 10.7% of total GDP.
However, this is less benefit compared to the potential that exists without generous tax exemptions,
tax avoidance and other illicit financial flows.
The country is deprived off resources and moreover, sinks further in public debt as the country takes more loans.
The debt burden heightens social and economic injustice .