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.

10 Comments

  1. Elvis manjimela

    Thanks your excellence take us out of shame

  2. CHRISTIAN WARRIOR

    For how long are we going to be held at ransom by this illuminati and freemasonic organization?This satanic IMF has held us in bondange for far too long.Wake up Zambia!!!

  3. manase siwila

    i appreciate minister of finance Hon. Mutati for his frantic efforts in ensuring that our country gets back to its well defined economic outlook.Now the only thing that we need to do as a country is to be faithful in the way we contract these debts because we need to first see the benefits trickle down to the local people.

  4. Arthur

    Even though the minister is using good words like ‘consulting stakeholders’ this PF govt seems to have made up its mind to borrow. Under them we have borrowed large chunks of money and they are also responsible for the $750m which RB didn’t use. Why are we so desperate to borrow?

    Egypt recently borrowed and now, as a direct result, their currency is so devalued that there are no medicines in hospitals. Before that Malawi borrowed: their economy equally suffered.

    It would appear somehow the ministers will benefit. For the masses this will be a time to struggle all over again. What makes one sad is the fact that we have been doing well as a country. RB left the currency at K4.70 per dollar. Already we ate at twice that. With IMF’s unforgiving policies it will rise further. All gains made will quickly be lost. Then we will be starting all over again to dig ourselves out of the mess. African leadership really makes for sad living.

    The best would be for us to live within our means. To improve tax collection and reduce public debt. All unnecessary expenditure, like the approved Parliament Hotel, should be shelved until we can comfortably pay fie it using our own funds.

    But that is wishful thinking. We are already doomed.

  5. 123

    Kabili baliku tamfya mu party ,you can definitely say so.

  6. APOSTLE TEMBO,JR

    ON 26 FEBRUARY 2017, IN THE REALM OF THE SPIRIT, GOD TOLD OF THE FOLLOWING : 1) GOVERNMENT SHOULD NOT SELL ZAMBIA RAILWAYS BUT EARN MORE MONEY BY INTRODUCING THREE SESSIONS FOR LOCAL ROUTES. 2) CONSIDER AGAIN THE PLAN CLIVE CHIRWA HAD FOR ZR. 3) UTILISE MAXIMUMLY SONDASHI FORMULA AND EARN FOREX FROM IT . 4) CHURCHES SHOULD NOT DIVERT FROM PREACHING THE GOSPEL TO START PREACHING ABOUT AIDS FOR EXAMPLE STAY BLESSED.

  7. marvin

    The man is really marketing MMD showing the president how MMD works no any PF brains would have taken it so head on and show the president that he is cable of moving things bravo MMD and Not PF

  8. Native

    It is important that zambia brings to the table, the IMF. What’s more critical however is whether zambia currently has in place a govt that has the management discipline and integrity to formulate and execute a survival plan that the multi-lateral institution can find credible and support. Even commercial and domestic banks do not as a matter of practice ordinarily lend money to irresponsible customers. A sound credit history/reference is essential. Remember the greek fiasco? Zambia is not much different, if not in a more precarious position.

  9. Jay Rich

    Ba zifunila osayesa

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