Economy

IMF Coming To Zambia Next Month

Finance Minister Felix Mutati says the consultative process for the International Monetary Fund (IMF) supported program will soon be completed and presented to Cabinet in readiness for a team from the fund which will be coming to Zambia next month.

The Minister was speaking to investors and British government officials at the Royal Institute of International Affairs, Chatham House, in London last evening.

Mr. Mutati says the government is consulting various stakeholders in readiness for consideration by cabinet before IMF comes next month for program talks.

During the seminar, Mutati shared information on the available investment prospects and on the engagements which the government has been having with various cooperating partners in Zambia and abroad.

He says this year, government is confident that cooperating partners will disburse budget support in excess of US$400 million.

He adds that Zambia needs private sector investment in order to accelerate job-creation and give direction and hope for a better Zambia for the people.

Mutati has also said international interest in Zambia’s Current US$ 750 Million, US$ 1 Billion and US$ 1.25 Billion sovereign bonds is rising due to positive sentiments on the economic recovery program.

Meanwhile, FQM Director of Government Relations John Gladston attested during the seminar that the policies which the Zambian government is implementing through the economic recovery program have had a huge positive impact across the spectrum of the private sector community in Zambia.

Meanwhile, seminar Chairman Chris Van Nierkek says, “Zambia is moving in the right direction.”

Van Niekert says commitment to Zambia’s economic recovery and stabilization program is a key step in preparing for government’s engagement with IMF.

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