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Monday, February 24, 2020

Mwanakatwe describes meetings with IMF/World Bank as a success

Headlines Mwanakatwe describes meetings with IMF/World Bank as a success

Minister of Finance Margaret Mwanakatwe and Zambia’s Ambassador to the United States Dr. Ngosa Simyakula.

Minister of Finance Margaret Mwanakatwe has described the just ended Spring meetings of the IMF and the World Bank in Washington DC, as a success.

Mrs. Mwanakatwe says the meetings with the IMF, the World Bank, Japan International Cooperation Agency, UK Department for International Development, African Development Bank, the Trade and Development Bank and other development partners were “very insightful and further strengthened the country’s cooperation with both multilateral and bilateral partners.”

The Minister has said Zambia’s multi-sectoral investor forums held on the sidelines of the Spring Meetings, were the icing on the cake as they gave her delegation, the hope of tangible investments in energy development, technological & industrial development, agriculture, education, health, and social Investment.

Affirming the success of the trip to America, Mrs. Mwanakatwe confirms that following her delegations investor relations programmes, a consortium of American Investors has submitted a proposal for the creation of a Southern African Regional Hub for Technology to be located in Lusaka, Zambia.

The technology park, a mixed-use work-live facility, will consist of a large-scale data center, a business incubation hub for small and medium enterprises, two international standard hotels, a regional conference center for technology, residential housing and office blocks.

The technology park will also host international standard facilities for block-chain technology, financial technology, education technology and a campus for advanced academic interaction for top local, regional, and international universities.

At full-scale, the hub will create over five-thousand jobs.

“The Zambian Government will do its best to ensure that all requirements are put in place so that the proposal becomes reality and construction commences as soon as possible,” Mrs. Mwanakatwe has stated.

She added that the technology park will avail opportunities for the much needed technological creativity and upgrades in some Zambian industries.

“Our citizens, especially the youth, need jobs, so we cannot wait for long for the proposal from the Americans to be actualised,” said the Minister.

Mrs. Mwanakatwe has since departed Washington for Lusaka.

She was seen off at Dulles International Airport in Washington DC, by Zambia’s Ambassador to the United States Dr. Ngosa Simbyakula.

The Minister of Finance was accompanied to Washington DC by her counterpart the Minister of National Development Planning Alexander Chiteme, Secretary to the Treasury Fredson Yamba, Deputy Secretary to the Cabinet (Finance and Economic Development) Christopher Mvunga, Ministry of Finance Permanent Secretary for Economic Management Mukuli Chikuba, Ministry of National Development Planning Permanent Secretary Chola Chabala, and Bank of Zambia Governor Dr. Denny Kalyalya.

And Mrs. Mwanakatwe has a busy schedule upon arrival in Lusaka among which is a meeting with an IMF Mission Team for ARTICLE IV CONSULTATIONS. The current discussions are known as “Article IV Consultations” because they are a statutory requirement under Article IV of the IMF’s Articles of Agreement.

After the engagements with different stakeholders in Zambia, the IMF team will report its findings to IMF management and to the Executive Board, an organ which represents ALL the IMF member countries, Zambia inclusive.

In a few days, the Zambian Government and the World Bank Country Office are also scheduled to launch the recently approved Country Partnership Framework.

During bilateral discussions with the Trade and Development Bank, it was also confirmed that Zambia will host the Bank’s 35th Anniversary Commemoration and Annual General Meeting in August this year. The event will be held in Lusaka.

Issued by;
Chileshe Kandeta

[Read 4,348 times, 1 reads today]


    • Ama levels ba finance minister!

      What this curvy drunk lady (and her equally drunk boss) considers as success is NOT good enough for our country.

    • This useless drunk old hen…..Zambia can do better than this….These guys just went for a shopping spree wasting more tax payers money

    • High level meetings when your PF and Zambians are going LOWEST.
      I can’t wait for HH to take over as Minister of Finance and Republican President.
      Vice-president Nalumango we take over Ministry of Planning now run by the domicile Chinteme.

    • All that you have mentioned sounds good.

      But Madam what say on interviews has got something called Fundanmental Analysis Effect in Global Capital Markets. Especially that Zambia has Sovereign Bond on Global Markets.

      You failed in your interview with Bloomberg to answer a critical question.

    • Successful! Typical Zambian interpretation of attendance! Nothing is going to come out of this apart from the fact that Zambia’s performance was down graded and so did the Kwacha lose in strength while the Mwanakatwe team was in Washington DC.

  1. Choka apa!!
    You don’t understand the impact and consequences of dwindling foreign reserves at the Central Bank and you claim your so called “meeting(s)” were a success.

    • All these Spokesperson jobs need scrapped, they are cadres. Just salary of that Kandeta can pay council workers in Kabwe.

  2. Where is the oak tree plantation in Zambia? Not much clue of whether we are going or coming. Zambia’s wasted years with this cabal at the helm.

  3. What success? As long as we’re still dangling on the strings of these monetary institutions, there’s no national success for us.

    More than 50 decades after independence, we still have the resources to develop Zambia without them and yet they continue to call the shots. When will we finally get out of our diapers, stop crawling and learn to stand on our own feet?!!

  4. …so what exactly is the success ? a proposed of a technology center, that’s all this whole butch came back with, a proposal, and she has the audacity to say it was a success! a person of her ranking should surely know what a business proposal is, it’s not even worth mentioning. I guess when there’s nothing else to point to

  5. What else is she going to say… giving self assessment …this is what they tell the dull foooool in State House and he starts dancing.

  6. I don’t like PF but its still helpful to use palatable, civilized and respectful words. They have messed up everything but no need to insult or abusive. It is not in order to call her a drunkard when some of you are worse sinners. So sober up and behave ba Kapoli. She is still our minister despite PF having failed LAMENTABLY to handle what we voted them for.

    • Really laughable …she is going to D.C to go and beg for a loan to pay off another loan… “to borrow from Peter to pay Paul” lets just say not exactly Paul but Xi Jinping in Beijing.

  7. Government Word Meaning:
    When the PF government say the meeting was a Success meaning the results after implementation will a disastrous to the citizen. When it is good,better,best to the government means it will be bad,worse,worst to the citizens. For instance it is good to donate relief food to Cyclone Idai victims in Mozambique and Malawi but that bad to Zambian citizens who are in looming hunger in rural areas. When the police say have no evidence or still investigating that means a PF cadre,or Minister or a ritual murderer is involved but if they say made arrest that’s means it is any one from the opposition. It is good for the government to close Post Newspaper,CBU, borrow money from China,PF Secretariate acting an employing agency (recruiting agency),running tax driven economy…

  8. running tax driven economy not a production driven economy; kwacha is nose diving. The government was supposed to invest heavily in three sectors with its limited resources in Agriculture,Education and Health then follow by Commerce,Mining and Infrastructural development in a logical manner .

  9. She had no idea how to do her work or what to say, thats why for her it was a success, just made us zambians look more stupid

    • Maggie is only an expert in Wig and Weave wearing …not forgetting downing Whiskey bottles with her equally inept boss LAZY LUNGU!!!

  10. I hope she doesn’t believe her own drivel.
    As it is, she has no personal nor National accomplishments to speak of.

  11. Successful meeting would be in Lusaka when they fire and get rid of this deadwood minister.Her biggest impression in Washington DC was about not using plastics.

  12. She had a successful meeting wit IMF world bank and other supranational entities She was a marvel to listen to by many Investors equally also among st the Finance ministers in attendance

    Equally the IMF meeting will be successful and Zambia will get some financing and package Try also to see the other country articles to understand this meeting

  13. Ma paf imwe, we all know that negotiations for loans to Zambia by IMF failed/ failing. What cheers, hoodwinking Zambians – pay salaries to workers – am out here.

  14. Sometimes it is ethical to reject someone’s loan application when you know that they will not pay back.If it is an individual, you look at net worth. More nkongole more problems

  15. Good success. Just give the IMF their club Article IV consultations. No staff program like Zimbabwe. Current fiscal programmes and debt sustainability plans continue to overcome the doom and gloom.

    Its been a good run of poverty reduction, housing development and property boom, infrastructure development, schools and colleges development, health facilities etcetera unlike the MMD nonsense of massive FOREX reserves, middle-income status, strong kwacha, best Finance Ministers, Best Bankers – phew; which got it kicked out since rosy numbers the opposition wants to emulate did not improve people’s lives. Deja vu to the short memory opposition everything.

  16. All countries with membership of IMF goes thru the articles that includes countries that recently benefited like Afghanistan and Egypt just like china is not an accept ion but Zambia is much more better aligned in potential that all including those who recently were given the facilities

    Sometimes its not about the loans but the review (economic review)that keeps you in check and on track on your fiscal plans and somehow to re balance to manage the returns and risks

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