‘IMF approval of $1.3bn reflects confidence in ECL’
THE approval of US $1.3 billion for Zambia by the IMF Board of Directors, is a show of confidence in President Edgar Lungu’s administration by the global community, says former PF Kanyama aspirant candidate Chris Changwereza.
Zambia is one of the beneficiaries of the recent approved general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion, for eligible member countries.
Mr Changwereza said
even amidst the negative effects of coronavirus and criticism from the opposition, the PF government under the leadership of President Lungu has remained resolute by proving to the world that it has workable policies to transform the country’s economy.
He observed that the country has continued posting positive economic growth
which he said was a result of the favorable political and investment environment the country is enjoying.
“The decision by the IMF to approve $1.3 billion for Zambia is not by luck but a show of confidence in the manner the PF Government under the leadership of President Lungu is presiding over the country’s economy,” he said.
He said the PF government has proved its critics wrong through the appreciation of the Kwacha and attraction of new foreign direct investment among others things aimed
at improving the wellbeing of Zambians.
Mr Changwereza observed that the appreciation of the Kwacha against other major currencies has boosted local businesses especially those involved in importation of goods and services.
He also said the formation of the Zambia Gold Company under the government investment wing, ZCCM-IH, will help the country benefit from its natural resources unlike in the past where foreigners had an upper hand in mining on minerals such as gold.
