Finance Minister Felix Mutati says government will work together with the International Monetary Fund and other cooperating Partners in constructing the country’s economic recovery program.
“I believe that President Lungu’s exceptional leadership talent coupled with the diverse experience of his team, will prescribe invaluable reforms aimed at assisting the country in handling the pressing socio-economic challenges facing our people and shipping them out of the troubled waters of poverty,” said Mr. Mutati.
And British High Commissioner Fergus Cochrane-Dyet has said there is sufficient room for improved engagement between Britain and Zambia. “We are ready to share experiences and help build capacity in order for Zambia to recover from her economic shocks,” he said.
Mr. Cochrane-Dyet made the assurance when he paid a courtesy call on the Minister to congratulate him for his appointment and to introduce the visiting British Department for International Development Chief Economist Professor Stefan Dercon.
Speaking during the visit, Professor Dercon advised that export oriented economic diversification as a way of cushioning Zambia’s legacy dependency on copper revenue inflows is one option that the country could consider.
The Ministry of Finance has embarked on rigorous engagement with internal and external stakeholders to ensure that broad consultation is attained in formulating economic recovery policies which will be announced alongside the 2017 Budget.
As part of the economic recovery consultation process, Mr. Mutati is this week scheduled to meet the Industrial Development Corporation, Bank of Zambia, Bankers Association of Zambia, Zambia Revenue Authority, and the Zambia Chamber of Mines.