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Alba Iulia
Saturday, March 6, 2021

IMF studying Zambia’s Economic Recovery Programme

Economy IMF studying Zambia’s Economic Recovery Programme

The International Monetary Fund has revealed that it is now studying the recently launched Zambia Economic Recovery Programme to see how it could help finance it.

IMF Communications Director Gerry Rice announced during a press conference in Washington that the Fund is now assessing how it could support the program and reform efforts, through possible Fund financing.

Mr Rice stated that following Zambia’s request for a financing arrangement with the Fund, its Director of the Africa Department, Abebe Selassie, and Zambia Mission Chief for Zambia, Alex Segura-Ubiergo, visited Lusaka in December, and held high level discussions with the Zambian authorities on the economic recovery plan and on that request for a Fund?supported program.

Mr Rice also stated that the IMF takes note of that recent policy announcement for a zero rate value?added tax on fuel.

“While intended to protect consumers against possible price increases such measures tend to be regressive and do not benefit the most vulnerable groups,” Mr Rice said.

“But, again, this is set in the context of my discussions with the authorities and our assessment of how we might be able to move this forward.”

25 COMMENTS

  1. Stop posting rubbish of economics. HH will fix this.
    We need stories of why Zambians are addicted to stealing and alcohol.

  2. With 8 months b4 the August 2021 Elections can Zambia have an IMF Programme? It doesn’t look like. Which Govt would implement such a Programme? That is only possible after August 12, 2021 assuming those Elections are not disputed. That’s most unlikely.

  3. Nostra continue dreaming about hh katundu fixing things in your bedroom with your wlfe. You were rejoicing about defaulting our debt now things are being resolved through prudent financial management, you seem upset. Why do you have hate for our country you f00lish upnd diasporans? You are not even zambian anymore. Leave us alone and go and protest in BLM movements uko. Fuseke

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  4. This imf chap is dull and totally ignorant of the ground reality.

    The fact of the matter is by increasing fuel prices, prices for everything goes up. From bread to sugar to meali meal to medicine.

    everything goes up when fuel prices rise.

    It is his stupidity which is not allowing him to comprehend the true reality. The rich and well to do don’t get as much affected as a common man when fuel prices rise.

    Imf don’t help countries, they only destroy countries especially the poor. The poor become more poor. You will notice that whichever country in the world is currently on imf program it is not their first one. After one program another one starts.

    This is how imf works, they don’t help economies. They destroy economies.

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  5. Fellow citizens, we hv not built even good infrastructure for the development of a productive, job-creating economy to sustain us. Our economy is in need of the right kind of politics to begin to move in the right direction. The starting point is good politics or good governance because government officials make the most important economic decisions such as hw large the national budget will be, hw high the tax rate will be, wht the budget will be spent on etc. If the IMF continues to ignore good governance by doing business with kleptocratic regimes, then it’s not paying attention to its mandate.

  6. The greedy and selfish opposition should take a leaf or two out of IMF book. It should learn to keep personal gains aside when it comes to national interests.

  7. If the IMF is willing to help Zambia in implementing the ERP, it means President Lungu is on the right track and economy will be revived soon.

  8. The opposition that claimed there was nothing in ERP worth commenting, should read this carefully. Though they did not find anything worth commenting, the IMF has found a lot in ERP.

  9. This Nostradamus is bogus like Hakainde Hichilema. Why don’t you keep your foolishness to yourself? HH is not going to fix anything.

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  10. ERP is the ambitious plan to revive economy. The experts at IMF have realised it, but the dull opposition here is not ready to learn lesson.

  11. If one thinks that IMF has decided to help implantation of ERP for no reason, then he is in fool’s paradise. The people at IMF are more wise than you.

  12. The international community is more rational than the dull opposition here. They know whom to support and whom to dump. The fact that IMF is toying with idea to join Zambia in implementation of ERP, proves that it is completely doable and has potential to transform our economy.

  13. Isac Phiri, What a profound wisdom! You are like your leader. Only doing hollow talks and nothing else. It would be better if you or your leader could give a concrete plan instead of only complaining?

  14. There is no substance to the economic recovery initiative by Lungu.

    Just see how corrupt our politicians are.

    Ask them where they got the money they are throwing around now during campaigns.

    I repeat, do not give them any money until change of government.

  15. IMF do not help countries they perpetuate their indebtedness. Crying for my country. We the Zambians need to build Zambia on our own. Work for free & produce raw materials for free in the short-term, it can be done. Govt must invest more into machinery & youths to volunteer to work for free in p

  16. IMF do not help countries they perpetuate their indebtedness. Crying for my country. We the Zambians need to build Zambia on our own. Work for free & produce raw materials for free in the short-term, it can be done. Govt must invest more into machinery & youths to volunteer to work for free in producing raw materials & building infrastructure & food production

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