By NATION REPORTER
THE International Monetary Fund (IMF) has disclosed that research studies have discovered that subsidies such as those on petroleum products are only benefitting the rich people more than the less fortunate in all countries.
Eric Lautier, the IMF country Resident Representative for Zambia says subsidies are also not good for climate change-prone countries, especially in situations where Zambia is struggling with severe drought that has hit six of the country’s provinces leaving more than nine million Zambians exposed to famine.
“Ultimately, discussions around subsidies are about discussing on how best to allocate limited resources in an economy. We, at the IMF have done a lot of research on fuel subsidies and their welfare impact in developing countries CLICK HERE TO READ MORE
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