The International Monetary Fund (IMF) points out in its recent study that Mozambique is the most indebted country in the Southern African Development Community (SADC).
Entitled “Regional Economic Outlook: Sub-Saharan Africa, Going through a long pandemic, 2021”, the study reports that Mozambique’s public debt corresponds to 125.3% of the country’s Gross Domestic Product (GDP).
Following Mozambique is Zambia, whose public debt corresponds to 118.7% of BIP. In third and fourth place are Angola and Seychelles, with public debt corresponding to 110.7% and 110.4% of GDP respectively. Below these countries are Mauritius (87,7); South Africa (80,8%); Namibia (71,4%); Malawi (76,8%); eSwatini (52,8%); Zimbabwe (51,4%); Lesotho (49,8%); Madagascar (46,9%); Tanzania (37,9%); Comoros (30,0%); Botswana (25,3%); and the Democratic Republic of Congo (12% of GDP).
Overall, the average public debt of the SADC countries is 71.8%.
In terms of economic growth forecasts, the IMF points out that Botswana’s economy will lead growth at 7.5% of GDP, followed by Mauritius where real GDP at consumer prices will grow by 6.6%.
Below these two countries will be the Democratic Republic of Congo, whose economic activity this year will grow by 3.8%, Lesotho (3.5%); Madagascar (3.2%); South Africa by 3.1%, Zimbabwe (3.1); Tanzania (2.7%); Namibia (2.6%); Malawi (2.2%).
Mozambique, whose economy will grow 2,1%, will only be above Seychelles, whose GDP will grow 1,8%; eSwatini (1,4%); Zambia (0,6%); Angola (0,4%); and Comoros (0,0%). According to the IMF, the average growth rate of the SADC economies will be 2.7% in 2021.
