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BEWARE OF IMF

… Not all that glitters ‘is gold’

By SIMON MUNTEMBA

THE new dawn Government should not place the International Monetary Fund (IMF) help on top of its agenda but look at internal solutions, LubindaHaabazoka has advised.

Dr Haabazoka, who is Economics Association of Zambia president said getting the IMF package would be acquiring more liabilities.

He said in an interview that the country should aim at increasing the Gross Domestic Product (GDP) by creating industries, which would generate the much needed resources.

“IMF should not be on top of priority for our country because it is a lender which will require us to pay back. So what are we going to pay back if we have no source of income? We need manufacturing industries that will generate resources and create jobs,” Dr Haabazoka said.

Dr Haabazoka said Zambia should be the last country to ask for credit from the IMF.

Recently, IMF Resident Representative for Zambia Preya Sharma held a meeting with Finance Minister Dr. Situmbeko Musokotwane.

The bilateral engagement, held at the Ministry of Finance was the first between the IMF Resident Representative and Dr. Musokotwane and discussed various aspects of strengthening the partnership between Zambia and the Fund.

The Ministry of Finance said the resources from the IMF would assist the country to attain the development aspirations and lead to economic stabilisation and positive growth.

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