Friday, February 23, 2024

Zambian Finance Minister Meets with Outgoing World Bank President to Discuss Debt Crisis

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Zambian Finance and National Planning Minister Dr. Situmbeko Musokotwane had a productive meeting with outgoing World Bank Group President David Malpas at the World Bank’s headquarters in Washington DC on Thursday. The meeting, which lasted over 45 minutes, saw Dr. Musokotwane appeal to Mr. Malpas to continue his push for resolving Zambia’s debt crisis and urged him to maintain his advocacy for a balance of development opportunities between better-off countries and emerging economies like Zambia.

During the meeting, Dr. Musokotwane expressed his optimism for the World Bank to continue providing resources for promoting private sector investments to accelerate Zambia’s development programs. He also reiterated the Zambian government’s commitment to providing a conducive business environment. In response, Mr. Malpas congratulated Zambia for the progress made in implementing reforms “under very difficult circumstances” and reiterated the government’s call for all creditors to work together in resolving the debt treatment deadlock.

The World Bank team, which included WBG Vice President for East and Southern Africa Victoria Kwakwa and WBG Vice President (Operations) Samuel Maimbo, requested Zambia’s input in reallocating resources from slow-moving and idle programs under its country portfolio to needy areas. The team also reiterated its commitment to supporting private sector initiatives under the digital economy, youth jobs, mining, agriculture, the green economy, and other eligible transformational ventures.

Dr. Musokotwane is leading a high-level team at the ongoing Spring Meetings of the International Monetary Fund and the World Bank Group, which began on Monday, April 10th, and will end on Sunday, April 16th, 2023. The meetings are focused on finding solutions to global economic challenges, including debt relief, climate change, and economic recovery in the wake of the COVID-19 pandemic.

9 COMMENTS

  1. What’s with these people do they just like Washington and muzungus…why discuss debt crisis with them? What more do you want to sell your souls? Why did you remove subsides? Why are you not going to Beijing to discuss debt crisis?

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  2. Some just dont know the mess Zambia is in
    These chaps are trying to resolve the problems
    Yet we some how seem to know everything that is going on
    With all the posts and solutions to our ills Why dont some join
    the GRZ and assist, seeing they have the answers

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    • So you think it’s easy to join GRZ? Why don’t you do so yourself. You appoint a dunderhead like Kawana and you think you can have solutions to our so-called crisis? The country was in a mess but you have made it messier by using theories that can’t work.

  3. Go to Beijing, sit down with Xi Jimping, discuss the debt and its adverse effects on our country. Hear what he says. If it’s not good report back to us. It’s worthy trying. There’s no shame in trying especially if you are the one who needs help.

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    • HH is the one who needs to fly to Beijing and shake hands with Xi but he is afraid of what his white masters in Washington will make of it…if there is one country to be in good books with now its China its getting all the oil and gas from Russia at a discounted price and selling it on.

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  4. He is outgoing he has nothing to discuss but say bye bye to everybody. Better you start discussions with the incoming.

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