A team from the International Monetary Fund (IMF) is in the country on a staff mission for discussions on the economy.
The visiting team is expected to meet Government authorities, the Bank of Zambia, development partners, the private sector, civil society and think tank organizations.
The visit by the IMF team is at the invitation of the Zambian Government earlier this quarter and the meetings will be held from 11th to 20th November, 2015.
This is contained in a treasury statement released to the media.
Below Is the full statement
For Immediate Release
IMF TEAM IN ZAMBIA FOR ECONOMIC DISCUSSIONS
Lusaka, Wednesday, 11th November, 2015. A team from the International Monetary Fund (IMF) is in the country on a staff mission for discussions on the economy with Government authorities, the Bank of Zambia, development partners, the private sector, civil society and think tank organizations. The visit is at the invitation extended by of the Zambian Government earlier this quarter and will be held from 11th to 20th November, 2015.
At the start of the consultative meetings with the IMF, the Secretary to the Treasury, Fredson Yamba said, “the coming of the IMF team to Zambia would not have been a more appropriate and opportune time than now, not only as we close the year 2015 and reflect on policies going forward, but at a time when Zambia, like most emerging markets is facing economic challenges.”
The IMF team led by the Mission Chief to Zambia, Tsidi Tsikita, comprises officials who specialize in real, fiscal, monetary and external economic matters.
The core issues that will form part of the discussions will be:
1) Macroeconomic performance in 2015 and the medium term outlook;
2) Fiscal developments in 2015 and the outlook;
3) Debt and debt sustainability issues;
4) Monetary policy developments; and
5) External sector developments
The discussions will also be on future relations between the government and the IMF. The outcome of the deliberations will culminate in the definition of practical measures to the challenges facing the country.
To this end, Mr. Yamba said ”Government is fully committed to fiscal consolidation and maintaining strong, steady and inclusive growth through ensuring a stable policy environment and delivering of supportive infrastructure for the development of the private sector, which is the back-bone of our economic prosperity going forward.“
Ministry of Finance
Spare your breath Mr. Yamba, we know what they are here for. which other countries are they visiting and why? are they visiting SA, Bostwana, Kenya etc. Simply put, they visit poorly managed countries otherwise they could have been going country to country since all the countries are affected with the global crunch. They were in Greece not to long ago.
Yamba, you lied to the politicians that our debt was sustainable yet the reverse is true. It is not sustainable for a small economy to borrow that much in such a record short time. Anyways, PF is just a special case, in ordinary situation before someone is employed to fill a critical position reference check is done. Did PF do a reference check on Chikwanda having been the man who took Zambia to this position in the 70’s? What different story did the country expect with a man with such a history.
Shame on you Yamba. You must be very ashamed of yourself. After denying, spinning, insulting and issuing false statements of the fundamentals of the economy, like a dog that goes back to its vomit, without an ounce of shame, you have finally admitted that you have failed to run the economy. Your clan ran Ministry of Finance has just become a conduit of theft without any clues on how to sustain the economy never mind grow it. You Yamba, a known thief in the MMD era, together with your shikulu and team will go down in the history of this country as an example of how not to ran a ministry, never mind a country. Yamba, Chikwanda and company belong to the dustbin of the history of this country. I hope a new regime would come in and follow you and your families to recover the money you have…
continued
…. plundered from this country. In just under five years of PF rule you have moved from surplus to IMF. Pure Chibwe no plan zoona.
Our economy is on rocks any sane person can admit that. However, to build the economy it will take every one to be involved especially our leader’s stop being selfish. at this point ‘I wonder what do we as Zambians produce and use for ourselves? Everything is imported and if there is anything manufactured locally then chemicals is imported. We don’t support local team. I have stopped buy bread we will be using sweet potatoes, we have replaced rice with sample from maize. Etc. Imagine even Brazilian hair also affect our kwacha, can we start exporting our hair for sale in USA, UK and china. The income from this business will add on our GDP by 5%.
Our economy is on rocks any sane person can admit that. However, to build the economy it will take every one to be involved especially our leader’s stop being selfish. at this point ‘I wonder what do we as Zambian produce and use for ourselves? Everything is imported and if there is anything manufactured locally then chemicals is imported. We don’t support local team. I have stopped buy bread we will be using sweet potatoes, we have replaced rice with sample from maize. Etc.
Imagine even Brazilian hair also affect our kwacha, can we start exporting our hair for sale in USA, UK and china. The income from this business will add on our GDP by 5%.
IMF back in Zambia? Maybe some of the bloggers were young when we suffered under them. I as one is very disappointed and at loss that Zambia under Lungu and his PF has quickly found herself back under the same IMF yoke we suffered with under KK. I have no words apart from mourn for mother Zambia.
Sign of failed leadership. Is the IMF visiting the globe as usually propounded by clueless PF carders headed by one Kambwili. Indeed they only visit useless regimes. LPM moved us a way from IMF and within 4 years SATA/ECL’s PF have taken us back. Shame on you cheaters. Your incompetence is un imaginable. You have destroyed are very stable economy you took over from MMD. The gullibles who voted for you in 2011 will reap your produce.