Parliament has rubber-stamped government’s increase of Zambia’s external borrowing limit (the amount outstanding at any one time) from K60 billion to K160 billion. Government has already increased the ceiling twice, from K20 billion to K35 billion in November 2013, and from K35 billion to K60 billion in June 2015. Government also increased the ceilings for domestic loans and contingent liabilities. The raised debt ceiling constitutes a substantial risk, especially if the funds are not ploughed into development projects that lead to economic development, and commentators worry that funds will be directed towards winning the 2016 general election. However, Finance Minister Alexander Chikwanda explained that the increase to K60 billion had been eroded by the Kwacha depreciating, and that current expenses on imports of oil and electricity had not been budgeted for. The new debt ceiling was approved, with 79 MPs voting for, 30 against, and 1 abstaining.