The Cooperating Partners Group has urged the Zambian Government to work towards obtaining an International Monetary Fund (IMF) programme.
Cooperating Partners Group Chairperson who is also German Ambassador to Zambia Achim Burkart says the group is ready to support the country in this endeavor.
Speaking during the second-high level policy dialogue with cooperating Partners at Mulungushi International Conference centre in Lusaka today, Mr. Burkart describes the recent visit of an IMF team to Zambia as a sign that Government is determined to engage
ith the IMF.
And Mr. Burkart said fighting corruption remains work in progress and requires the commitment of all Zambians and cooperating partners.
He noted that Zambia has numerous institutions and regulations in place.
Mr. Burkart observed that the increase in hours of load shedding has negatively impacted businesses and low-income households that cannot afford alternative sources of energy.
He said the Cooperating Partners have called on Government to deal decisively with ZESCO’s financial situation.
And, National Development Planning Minister Alexander Chiteme informed the cooperating partners that government is now halfway in the implementation of the Zambia’s 7th National Development Plan and the mid-term evaluation of the plan to assess the country’ performance.
Mr. Chitime meeting today will review the economy and energy reform roadmap among others.
Hope the country comes to a standstill in a couple of months. The low IQ citizenry needs a wake up moment.
What kind of country do you have in Zambia were foreigners have a voice in what you should do? How have you allowed such rubbish? Do you ever hear your ambassadors even say anything to these people racist governments? Zambia has sunk really low. The same mouths were screaming that you got too much credit from China, now they want to add more credit through their commercial IMF? More debt trap. But its ok if you are trapped by imperialists?
@ Bongo
Imbecile, inform yourself before crapping in public.
Do you know difference between IMF and Exim Bank of China?
By the way, IMF does NOT extend loans for “commercial” needs. Do you imbecile know difference of commercial lending and lending of last resort?
Ba lungu never gave power to the speaker. Corruption everywere in government institutions. How much is fuel today? Has load shedding Finisised? How much is meali meal today?
Let me tell you something. There’s no nobility in poverty.
BaFuna bacite drain Zambia into the sewer like HAZALUZA HAGAIN.
Unfortunately PF has wormed Zambia back on this bad trajectory without aid. What a shame that PF you found Zambia on a positive path or to Dununa Reverse the entire nation through corruption (buying ambulances at inflated prices, fire tenders, plane, road works with little or no economic value) all at the expense of the poor Zambians.
P.F IS BEYOND REPAIR /REDEMPTION!
Even if you give these P.F K4bwalala’z /K@opnya’z the whole combined treasury of U.S.A, Japan, U.K, Sweden, France, & Bahrain, they’d completely bankrupt it in a year MAX, & it would be back to begging.
P.F are NOT fit to even run a komboni bakery, or butchery, as evidenced by their leader who was a “Top Lawyer”, but resided in a Komboni, unlike his peers who lived in affluent areas befitting their profession /status. Therein should have been the warning signs, including swindling a Widow.
UPND is in the Sewer and is beyond repair because it is TRIBAL GROUPING led by UNDER FIVE and MUTINTA as VICE PRESIDENT and CHARMAINE as Secretary General.
IMF is an imperialist bank whose purpose is to enforce neocolonialism condition once you are trapped in their debt. We do not need any more debt as we have already borrowed too much.
Just appoint the people with the right qualifications in the right jobs and then we can manage just like kenya is doing.
IMF is a death trap not a debt trap even.
No one is forcing to knock on IMF’s door you over borrowed for pointless inflated projects
PF have no fiscal discipline already they have signed off on a $2billion loan for a pointless railway in Chipata
When IMF comes there will be no FISP and Zesco will be gone. There will be massive loss of employment and there will be no bumper harvest. There will be wage freeze. When IMF advised KK in 1986 to remove mealie meal subsidies there were serious riots. I can see them coming. IMF won’t grant us any relief. The Paris Club used Hichilema as their Economic Hit Man and he told Nawakwi that Zambian mines had copper ore to last for only 15yrs. They were sold for a song and the Hitman is still smiling. Today British and Swiss owned mines don’t want to pay taxes. IMF has hanged before, it’s better to be crucified by the Chinese this time around. If you know that you’re going to be raped and that there’s absolutely no way out, just lay back and enjoy it! Well come to Zambia
Those that love Zambia and it’s freedom should resist any involvement with IMF. IMF has no track record of helping any country on earth unless someone can prove otherwise. During the 2008 financial crisis (the worst since MARKETS begun), no western government sought help from the IMF. Why?
Please Zambia don’t borrow from IMF. You will be doomed and the development agenda will go away!
The observation of the now former ambassador of the AU to the US is apt. The solution is NOT the IMF. The solution is bringing those pieces of Africa’s economy together to function as a coherent mechanism that supports those sectors of the larger economy. After all that is what the West is doing. Food for thought? I think so. Those abject states in the US are helped by Federal interventions… rings a bell?
The deal is already! PF government already lobbied for this some three weeks ago. Remember all your economic managers were in the usa some three weeks ago.
Like one above has eluded people need to appreciate the chinese loans from the IMF & world bank ones. One of the down side of the chinese loans is that they do not improve the liquidity of an economy as their is no real cash injection. They will leave you with cheap over priced infrastructure and a huge loan to service. Thus, failure of our government to foster fiscal balance; non payment of suppliers & local contractors, accumulation & non payment of tax refunds ( resulting in the dwindling of current assets of most companies), increase in the cost of living, unemployment, no economic growth as a result of reduction in national…
World Bank is not good for development you will be ever regretting, who doesn’t remember what happened in 1996 . Mine closures was the order of the day if you love Zambians don’t try to do the same, people will suffer more than is the issue at hand just do with what you have
Zambia may want to get on an IMF programme but does the IMF want zambia. Maybe they have already seen that we are beyond redemption hence dillydallying to avoid engaging with zambia.
Signs of the bad times are around the corner. IMF conditions are never good for the short term. Long term debatable though. Sad part is that the nation is at this stage due to bad policies, corruption…..