IMF commences virtual meetings with Zambia over Covid emergency funding

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Each spring, thousands of government officials, journalists, civil society organizations, and participants from the academia and private sectors, gather in Washington DC for the Spring Meetings of the World Bank Group and the International Monetary Fund. At the heart of the gathering are meetings of the IMF's International Monetary and Financial Committee and the joint World Bank-IMF Development Committee, which discuss progress on the work of the IMF and the World Bank Group. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial markets. This year’s Spring Meetings events will take place in Washington, D.C., April 17-19, 2015. Photo: Simone D. McCourtie / World Bank

The International Monetary Fund has confirmed that it has started having virtual meetings with the Zambian government regarding a request for emergency financing.

IMF Communications Director Gerry Rice told a media briefing from Washington D.C that discussions will cover the economic response to COVID-19 as well as medium term macroeconomic objectives and policies.

Dr Rice said the IMF consultative exchange mission for Zambia will take place from June 22nd to July 1.

“So on Zambia, in the face of the COVID-19 pandemic, the Zambian authorities have requested emergency assistance from the IMF.

This comes in addition to an earlier request from Zambia for Fund support for their broader economic reform program aimed at restoring economic stability and fiscal as well as debt sustainability while increasing growth and fighting poverty,” Dr Rice said.

He said the Zambian authorities are aware that steps would need to be taken to restore debt sustainability.

“And in this regard, the IMF staff notes the government’s commitment to restore debt sustainability through fiscal policy adjustment and debt management in line with the finance minister’s statement back in February,’ he said.

“On the specific questions about timing. I can confirm that Fund staff will be holding virtual consultations with the Zambian authorities regarding their requests for emergency financing in the week beginning June 22nd.”

8 COMMENTS

  1. Dont give lungu any western money , he uses it to suppress peaceful demonstrations and pay his cader thugs to brutalise opponents

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  3. Why borrowing money while you failed to pay 11b that you put in pockets was meant for the poor people and development.how many cases do we have in Zambia for you to start borrowing?

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  4. Response from IMF izibika. Zero funds for Zambia until 2022. PF government messed up by chasing the IMF representative. This the typical Bemba idiom of “amalushi”. Watch this space.

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  5. Bonzo stop being a clown. Do you know that the UK debt as of 4 days ago has surpassed the size of its economy ? Let us not be ignorant to criticise everything just because it is done by fellow black men. You are a silly buffoon

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  6. This comes in addition to an earlier request from Zambia for Fund support for their broader economic reform program aimed at restoring economic stability and fiscal as well as debt sustainability while increasing growth and fighting poverty,” Dr Rice said.

    PF time-out so we can get funded

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