Saturday, June 15, 2024

Greatness for Zambia lies ahead after IMF deal-HH

Share

President Hakainde Hichilema has said that greatness for Zambia lies ahead after the International Monetary Fund approved the 1.3 billion dollars loan for the country.

The Head of State said when he launched the 8th National Development Plan 2022-2026 under the theme “Social Economic Transformation for improved livelihood” that citizens should familiarize themselves with the details of the deal which have been made public.

The President said the IMF loan contains social economic policies anchored on development outcomes of the 8th National Development Plan adding that underlying policies of these outcomes are homegrown contrary to assertions by some quarters of society that this is a foreign programme.

He explained that the micro-economic objectives set out in the 8th NDP include; placing the country’s economy on a higher growth trajectory, restrain fiscal deficit, enhance domestic revenue mobilization, curtail accumulation of domestic arrears, contain inflation, maintain adequate international reserves and reduce debt to sustainable levels.

President Hichilema said with the attainment of the objectives set out in the ambitious but realistic plan, government expects to address the challenge of poverty, enhance economic diversification and reduce high inequality levels among Zambians.

And the Zambia-China Friendship Association has paid tribute to President Hakainde Hichilema and his economic management team for successfully negotiating the 1.3 billion dollars extended credit facility with the International Monetary Fund.

Association Secretary General Dr. Fredrick Mutesa says the Association also takes note of the role China played in the credit restructuring talks with the bilateral partners that paved the way for the IMF milestone that the country is celebrating yesterday.

Dr. Mutesa said that working together with China and other members of the international community, the Association is confident that Zambia is poised for rapid economic recovery, growth and development.

8 COMMENTS

  1. Well done Mr president……..

    We call on all Zambians to work with this GRZ and develop zambia……

    Unless you are a theif, put all differences aside and work for zambia……

    6
    7
  2. What greatness is there by increasing Kaloba from $17b to $19b. Domestic revenue mobilization means Zambians will be taxed more while mine tax holidays continues. HH while in opposition was preaching against borrowing now he and his minions are celebrating borrowing. He can not tax the mines because his 20 years in opposition was funded by who knows who. At the end of the 5 years, those Zambians who think this is an achievement will be poorer than they are today because IMF will collect more $10b from Zambia. This mistake is the same mistake Africa made by selling the first Slave, Zambia made by selling the first mine and the one who got the cut is now in charge. Zambia is on promotion SALE SALE SALE.

    8
    6
  3. I hate this guy. How does zambia find its greatness from kaloba that comes with conditions that have not been disclosed to Zambians? Why you think hh rushed to recruit lots of public sector workers before signing the imf agreement? These loans come with strict conditions e.g. recruitment freezes and pay freezes . Continue celebrating

    4
    5
  4. Hh and upnd must be the biggest f00Is in Africa, if they think a whlte man can sign an agreement that puts Africans in a better off position than whltes

    6
    2
  5. The father came very happy telling his children that his neighbor who farms for free in his yard had given his a loan for k1.3. The son asked the father why not just charge rentals for the land the neighbor is using instead of borrowing money from him.

    3
    1

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading