International Monetary Fund -IMF- Deputy Managing Director Antoinette Sayeh is today expected in the country for a two day visit.
While in Zambia, Ms. Sayeh is expected to hold high level talks with the government focused on recent economic developments.
The talks will look at the effect of global economic developments such as high oil and fertilizer prices on the Zambian economy.
The talks will also discuss progress made on debt restructuring which the Ministry of Finance has described as an important step towards a formal programme with the IMF.
Ms. Sayeh will also pay a courtesy call on President Hakainde Hichilema, and hold discussions with Finance Minister, Situmbeko Musokotwane and the Bank of Zambia Governor Denny Kalyalya.
She is also expected to hold discussions with Members of Parliament, Civil Society and other Development Partners.
Ms. Sayeh will be accompanied to the high-level meetings with Zambian authorities by Acting IMF Resident Representative Carlos Cacares, IMF Mission Chief for Zambia Holland Allison and other IMF staff.
I’m sure the IMF director will direct the Zambian government that in order to get that long promised loan, they will have to fulfill a number of conditions, and you can be absolutely sure that abolishing of fuel and electricity subsidies is part of the package. So prepare yourself for extreme increases on petrol, diesel and Zesco tariffs.
Increases in fuel and food prices is global …..ask Kalyalya and Musokwatene
Hope she brings the loan money we so desperately need.
Instead of us getting money from our copper through direct involvement and appropriate taxes, we are here like headless chickens being told what is good and not good for us, shame. And someone calls this fixing! By the way how much is our debt now?
This may lead to the final nail in teacher and health workers recruitment.
If it was that simple, the PF government would have maximised profits from the sale of our “copper” . But unfortunately, our so-called copper is in the hands of private investors who have put in billions of dollars in developing, operating and maintaining the copper mines. We have to choose between going back to ZCCM when production dropped to below 200,000 tons per year because the mines were broke, or give incentives to investors to build production to over 3 million tons, increase employment levels, provide business opportunities to locals, and increase tax revenue for the government. Just look at how we have failed to run KCM and Mopani, when they are literally under Zambian management.
The same mouth today condemning borrowing,the next day it celebrates borrowing.
The IMF package is about debt restructuring boss. I know it’s a bit complicated, but let me try to simplify it for you. Imagine ba Jerabo that you owe kaloba to 5 people. That is what the PF government did, they left us in deep debt. But then you approach your rich uncle (IMF) who says that he could step in and talk to the kaloba people before they grab your house and car. He promises that he will lend you some immediate cash ($1.4bn) so that you sort out the high interest on your Kaloba and give you breathing room, But since he is speaking on your behalf, your Uncle now also puts some conditions on you, 1. downgrade from premium to Gotv, 2. stop taking your kids to expensive schools, take them to government schools with free education, 3. stop buying pizza every week, 4. sale one…
4. sale one vehicle if you have two…This is basically what it means, remove subsidies on fuel, stop excessive expenses as government. I hope this helps
How can she not see HE Sean Tembo the leader of the opposition outside of Parliament?
You condemned borrowing period.They say truth is stranger than fiction.Drinking salt and fresh water from the same spring.