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IMF DEAL STILL POSSIBLE

By BUUMBA CHIMBULU

ZAMBIA still has a chance to access the International Monetary Fund (IMF) as its measures to ensure fiscal prudence have been put in place. This has given the IMF confidence, says Economics Association of Zambia (EAZ) Deputy National Secretary, Rita Mkandawire.

Ms Mkandawire said the fact that the IMF team has been in Zambia for discussions on the extension of the Rapid Credit Facility (RCF) indicated that it had confidence in Government and Zambia as a whole. “The future looks bright because Government has ensured there is fiscal prudence, optimal allocation of resources and they have implemented the economic recovery plan so that the environment is stable. “This has given IMF confidence.

They came twice for discussions, showing us that they have interest in the same. The confidence to the IMF is that we shall pay our obligation,” she said in an interview. Ms Mkandawire expressed confidence that the economy had potential to bounce back as Government had shown keen interest in achieving a positive Gross Domestic Product. She however said: “but we need to take note that they can only invest after elections because of the uncertainty.

” Zambia formally requested for a funded programme in the fourth quarter of 2020 whose strides have seen two nodes of engagement. An IMF staff team led by David Robinson held virtual meetings during February 11–March 3 to discuss Zambia’s request for support under its Extended Credit Facility.

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