The International Monetary Fund this week approved new emergency aid for 28 of the world’s poorest countries to help them alleviate their debt and better cope with the impact of the coronavirus pandemic.
Zambia has again been left out of the list of beneficiary countries.
The announcement, which follows a similar measure passed in mid-April for 25 countries, is intended to help the countries cover their debt repayments to the IMF for the next six months and “free up scarce financial resources for vital emergency medical and other relief efforts” during the pandemic.
The 28 countries receiving the second tranche of aid are Afghanistan, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Djibouti, Ethiopia, Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, the Solomon Islands, Tajikistan, Tanzania, Togo and Yemen.
Mali is also eligible for aid but has not yet been added to the list because “there is a lack of clarity as to whether the international community recognizes/deals with the current military regime as the government of Mali,” the IMF said.
The debt relief is channeled through the Catastrophe Containment and Relief Trust (CCRT), which enables the IMF to provide grants to the poorest and most vulnerable countries hit by a natural disaster or public health crisis.
Subject to sufficient resources in the CCRT, grants could be provided for a two-year period through mid-April 2022 for an estimated total amount of $959 million.
The IMF’s goal is to endow the CCRT with $1.4 billion so that it can also meet future needs.
To date, $506.5 million has been contributed by several countries, including the United Kingdom, Japan, Germany, the Netherlands, Switzerland, Norway, China, Mexico, Sweden, Bulgaria, Luxembourg and Malta.
ZAMBIA IS NOT POOR BUT ONE OF THE RICHES COUNTRIES.
Yeah shouldn’t we be happy that Zambia has been left out of the list of Worlds poorest countries? We miss holding the begging bowl?
THE PROBLEM IS BA MWANKOLE
So we are proud when we are classified as poorest country in the midst of plenty. Which country among those to be aided by IMF is perfect in all spheres. Ichalo ici!
Its OK to leave without aid. Foreign aid is soooo bad to the receiver. No one gets blessed frm receiving
Chikomba, are you sure? Why then did Zambia dobmuchbwant the help of the IMF?
This is actually good development for Zambia, it is high time our political leaders in Govt especially started thinking and not entirely depend on foreign aid which has never uplifted the common man. We all know aid is simply consumed and never utilized for any proper development as it is usually intended. On the other hand, the Zambian govt has mismanaged its resources including the aid received so much that there is no need to be considered for aid. What would be the point of aiding a govt that is careless and mismanages the meagre resources it has at its disposal? The govt needs to start looking at ways to revamp the economy using local resources instead of begging to be recognized as one of the poorest countries in the world.
This speaks volumes about the poor governance of this country
The unsustainable Debt will continue to haunt Zambia in as far as access to Western Concessionary financing. The Solution to this problem will depend on the Govt implementing favourable Macro-economic Policies. In an Election Season this is unlikely. The current Govt has no Capacity, Competencies and Political will to implement Political and Economic Reforms to turnaround this Economy. With a PF Cadre as new Governor of BOZ the prospects for Zambia beyond the 2021 August Elections looks gloomy. The writing is on the wall.
Zambia is not poor it just has bad leaders.
This is good. We are not poor. That is the point. We are now a middle income nation. Nothing to watch here. Next
Laughable stuff coming from PF sympathizers trying to say that this is good news and that Zambia is doing fine. Rwanda, Tanzania and Ethiopia are on that list of beneficiaries… So according to the brain-damaged PF , Zambia is doing better than those and needs no help.
This should be a serious concern for Zambia…. Mali yes there was a military take over…but Zambia why….
When we make presentations they are listened to, and this is the result. Please yourself you are rich, a figment of your own imagination
These poorfools should know that yhe world is watching and seeing how they have been plundering our resources.
Who have we insulted at IMF as a nation? With the worst performing currency in the world and we conform ourselves that we are rich that is why we have been left out?, sure even DRC is better regarded than us?
You can’t help thieves who are embezzling the little they generate.
These Mwanks are so annoying.
PF must go!
Djibouti and Comoros are richer than Zambia plus Tanzania is almost level with us in GDP per capita. Ati poorest countries my foot.All these nations are richer than Zambia in terms of yearly GDP increase.
IMF wants to bring in a puppet like chiluba…So they are busy trying to create a very bad situation…We know you are working with Mr kalusa. One beaten twice shy. By the way we have alot of minerals below the ground. Therefore keep you money.
Zambia will never get IMF aid until the leaders don’t stop stealing.
The West is weary of another Mugabe in our region……..millions of zimbo refugees flooded world wide out of Zimbabwe…..
The west knows lungu is a very likey candidate to mirror Mugabe….
No help for Zambia while lungu reigns …..
Very sad to see the DRC on that list; a country that is supposed to be one of the reachest finding itself at the opposite end is very sad.
Thomas Sankara would be very disappointed to see Burkina Faso on that list, this is exactly what he never wanted.
For Zambia, this should be celebrated because it gives us an opportunity to work for ourselves. One day we should be the ones giving aid to other countries and not the other way round.
Well Done IMF VIVA and Thank you
As long as we continue sleeping,in Zambia or Africa as a whole,we will continue crying.The biggest problem in Africa we believe in each one for himself and God for us all but whites believe in giving even after stealing our resources from us.If a Bank want s to give you a loan they’ll make sure they find information on how you can pay back the money if the details shows you can’t manage to pay back then they can’t give you,what more the big organization called IMF the answer is definitely Big NO.For my country Zambia let’s clean our house Zambia we are in for it.God Bless Zambia.
Of course we won’t get any look in – the IMF are not stupid. They take one look at PF running our country and see a bunch of incompetent crooks. They know that they will not see a single dollar back from Zambia while the PF is in power. Call a spade a spade. Until we as a nation have the guts to call out the people in charge who are ruining our economy and society for decades to come, we are staying the same stupid lambs who are signing the country over to China, while crying about things that happened in the country over 60 years ago.