The Zambian Government has written and advised the International Monetary Fund of the measures it is undertaking to address debt sustainability.
This follows the last engagement between the Government and the IMF held in Lusaka from 13th to 19th November, 2019.
The IMF Mission was in the country at the invitation of Government to discuss recent economic developments and the economic outlook for
2020 and the medium term.
Finance Minister Bwalya Ng’andu says based on the outcome of the mission in November last year, Government will work with the IMF to define a working relationship with them and determine the nature of its support to the Government.
Addressing Journalists on the State of the Nation’s economy, Dr Ng’andu said the next engagement with the Fund will be held from 18th March to 1st April, 2020.
The Finance Minister said Government recognizes the support that Zambia receive from cooperating partners in social and economic sectors such as education, health, energy and agriculture and will therefore continue their engagement and interaction with cooperating partners as we value their support.
Dr Ng’andu reiterated that government will ensure that it implements the debt management measures as directed by Cabinet.
He said his Ministry will also enhance revenue collections whilst remaining mindful of the need to support private sector growth.
Dr Ng’andu said government will continue to engage cooperating partners to support Zambia’s growth and development agenda adding that through implementation of the measures outlined, Government shall return the country to debt sustainability and get the economy on the path to recovery.
He said the measures and policies are sound and should have the support of the Zambian people.
Dr Ng’andu said what is required is effective and sustained implementation. We are therefore, all called to action.