IMF commences staff visit to Zambia

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A five-member delegation from the International Monetary Fund (IMF) is in Zambia to exchange information with authorities on the policies that the government was undertaking in dealing with the economy.

A finance ministry spokesperson said on Thursday.

The Finance ministry spokesperson, Chileshe Kandeta, said the delegation intended to hold discussions with government on measures being taken in dealing with fiscal challenges, public debt, and other macro-economic policy issues aimed at stabilisation and growth of the economy.

The team, which is led by Dan Gura, on Wednesday held talks with Finance Minister, Bwalya Ng’andu, who told the delegation on the macro-economic environment, the electricity situation and  public debt management.

Ng’andu also told the delegation the domestic resource mobilisation drive the government had embarked on.

The Zambian finance minister told the delegation of government’s commitment to stabilise the macro-economic environment and achieve sustained economic growth and that the government had adopted a sequenced and prioritisation approach in the implementation of development projects to ensure that there was no further debt-induced fiscal stress.

The government, he said, was aware of its responsibility to create suitable conditions for closer future development cooperation with the IMF.

Zambia is determined to sail over the tide of the rent fiscal slippages to ensure that the nation’s development goals and objectives are attained, he added.

On his part, the IMF delegation leader said his team will have data and information exchange sessions with the government, the central bank, revenue collection agency and other players in the economy.