Finance Minister with IMF Delegates
Finance Minister with IMF Delegates

An International Monetary Fund (IMF) team led by Mission Chief, DAN GHURA, has completed its STAFF VISIT to Zambia.

The team has been in the country from November 13, 2019.

During their tour of duty, the team conducted data exchange and policy consultations on measures that the Zambian Government is undertaking to address some of the current macroeconomic challenges.

The IMF team also discussed with the Government, recent developments in the Zambian economy such as the macroeconomic situation, the Governments policy response, and the progress made in the implementation of austerity measures.

During the staff visit, the IMF team met the President of the Republic of Zambia Mr. EDGAR LUNGU, the Bank of Zambia, the Zambia Revenue Authority, Cooperating Partners, Civil Society Organisations and the Business Community.

The Government and the IMF both acknowledge that the country continues to face macroeconomic vulnerabilities. Key among them is the impact of climate change on electricity generation and food production. The parties agreed that the stated vulnerabilities have pass-through effects on the rest of the economy.

Based on the assessment of the fiscal situation, the IMF and the Government further agreed that urgent implementation of policy adjustments related to debt management and fiscal matters will be essential in restoring the country’s fiscal and debt sustainability.

During the various policy level and technical sessions, the Government reiterated its commitment to continue implementing measures that have been pronounced in the past that are aimed at restoring the country on a high growth trajectory and ensuring debt sustainability.

The Government will maintain close contact with the Fund in finding solutions and ensuring that policy interventions are undertaken to address challenges and vulnerabilities that the country is currently facing.

The Government will use the outcome of the just ended IMF staff visit to build a firm basis for a defined sustainable macroeconomic path, which is critical for restoration of macroeconomic stability and forms a basis for future engagement with the Fund.

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11 COMMENTS

  1. The begging thieving government is being investigated. Sad

    Even Lusaka times has stopped blocking me and deleting my comments. The wind of change is being felt. Don’t worry you Lusaka times minions we will employ you. You are still zambian even though you were biased against us upnd. We will ensure that you change for the better and are independent and fair in your reporting. Good evening zambia

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    • Please Zambia don’t go this route! Ask His Excellency the President Dr. Kenneth Kaunda. No good intentions in KABAMBA’s friends!

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  2. “The IMF and the Government agreed that urgent implementation of policy adjustments related to debt management and fiscal matters will be essential in restoring the country’s fiscal and debt sustainability”
    Patiently waiting for the implementation of the above!

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    • Well with this Lungu ukose with your patience.
      The sooner Ka Lungu is out of office the better.
      He’s driven the economy into the ground and he hasn’t realized it yet. He’s too numb to the realities of the consequences of he’s laziness and plunder.
      Am shocked he’s still interested in Presiding over the mess he has created.

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  3. Nothing will change until the PF(pathetic thugs) mob is voted out of office.
    We are in for a long tough time, these thugs have no plan of action as we speak.
    The next president will have a lot of work to do to clean up this Lungu mess

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  4. Next time don’t vote with your tribal or regional emotions.
    Use common sense when you vote, don’t listen to lies about free money in your pockets-Sata or fake humility-Edgar
    Vote for your economic interest, vote for your personal development, vote for your freedoms, vote for people with a proven record of success.
    Listen carefully to what the candidates are promising and vote intelligently.
    STOP voting Ba “KAPALA” into office. People who use to scrap for living are now wealthy $ millionaire ministers.

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  5. Still asking for more debt, these PFoools are really 1doit and dull, what kind of people or animals are these in this ka party of fooools and 1doits lead by a ka president with no capacity to think

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  6. Would be good to have a rescue plan / package from IMF at this point, but that is gonna be tricky in that IMF will put strict measures which may not go well with our current leaders whose interest above all is to retain power at all cost. If only they could be magnanimous and put the interest of the country for once

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  7. Global Debt by govts is threatening to crash the world economy. As ugly and undesirable as debt is, even the USA federal govt owe trillions in debt. In fact their ratio between GDP and Debt is said to be 106.5%. if they carry on that ratio in 30 years time, it will be a ratio of 150%. We grumble in Zambia because we do not take in the world economy. Comparator data is needed to balance out criticisms of our govt performance.

    The world Central Banks should be looking to stop underpinning the world’s monetary system from $ dollars to use of GOLD. The Bretton Woods decision to use dollars is not viable in the current global economy. Govts have simply too much debt worldwide and our economies cannot sustain healthy economies. This idea is coming up more as a solution

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  8. HOLD IMF AT BAY or rather we will be very lucky if I F refuse Zambia more debt.

    A new recession worse than the last is on the brink. Who knows…if all banks crash, bonds and currencies will be worthless! Gold will be best to underpin hopeless capitalist economic systems.

    No increase in debt, let’s implement our tightening policies please.

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