Zambia will today find out if its formal request for a financial bailout from the International Monetary Fund has been agreed to or not.
For the last four years, Zambian authorities have been seeking a resumption of formal engagements with the Fund.
The request was finally granted late last year and formal virtual talks started around February.
It is believed that Zambia is seeking up to US$ 1.3 billion in financial assistance to help the country overcome financial stress caused by high debt.
During a recent press conference, IMF Communications Director Gerry Rice confirmed that talks have been going on since February and will end today.
“I don’t really have that much to add on Zambia from what I’ve said before except to say that, you know, you’re right that there’s an ongoing mission. The dates of that have been ?- it’s been running since February 11 we expect it to run through March 3,” Dr Rice said.
“I can confirm that we will communicate after that mission; a staff ?- an IMF staff mission, we will do a press statement at the conclusion of that. And since that mission is in process I really don’t have much else to say. That’s where we are on Zambia.”