IMF team in Zambia


A TEAM from the International Monetary Fund (IMF) is in the country on a staff mission for discussions on the economy with Government officials, the Bank of Zambia, development partners, the private sector, civil society and think tank organizations.

According to a statement released by the Ministry of Finance public relations officer Chileshe Kandeta, the visit was at the invitation of the Zambian Government earlier this quarter and the meetings would be held until 20th November 2015.

Secretary to the Treasury, Fredson Yamba, said the visit of the IMF team would not have come at a more appropriate and opportune time than now when Government was closing 2015.

He said Zambia was going to use the visit by the IMF team to reflect on its policies  and the way forward at a time when Zambia, like most emerging markets, was facing economic challenges.

The IMF mission is led by Tsidi Tsikita and includes officials who specialize in real, fiscal, monetary and external economic matters.

Mr Kandeta said the core issues that would form part of the discussions included Zambia’s macro-economic performance in 2015 and the medium term outlook, fiscal developments in the same year and its outlook, debt and debt sustainability, monetary policy developments and external sector development.

Mr Kandeta said the discussions would also be on future relations between the Government and the IMF, adding that the outcome of the deliberations would culminate in the definition of practical measures to the challenges facing the country.

”Government is fully committed to fiscal consolidation and maintaining strong, steady and inclusive growth through ensuring a stable policy environment and delivering of supportive infrastructure for the development of the private sector, which is the back-bone of our economic prosperity going forward,“ Mr Yamba said during the meeting.