Zambia’s new President, Hakainde Hichilema, claimed he inherited an empty treasury from his predecessor, Edgar Lungu.
Hichelima told the BBC in an interview on Wednesday that the ex-president completely looted the East African country’s economy.
He defeated Lungu in last month’s election in Zambia.
The President said: “People are still trying to make last-minute movements of funds, which are unauthorised, which are not theirs.
“The hole is much bigger than we expected. The debt situation had not been fully disclosed by the former government.
“There’s a lot of damage, unfortunately.”