Mon, 29 May 2017 11:25:00 +0000
By Aaron Chiyanzo
ZAMBIA should not give up on the International Monetary Fund (IMF) package as the process will call for serious sacrifice from both Government and the general citizenry, People’s Alliance for Change (PAC) president Andyford Banda has said.
Mr Banda said that in as much as the IMF package would come with some harsh conditions attached, it was the best way out for Zambia’s economy at the moment.
He said in an Interview with the Daily Nation that people would have to do whatever was possible to ensure that the IMF package was given to Zambia.
Mr Banda urged Government not to give up on pursuing the package for the sake of economic recovery of the country.
“We have to do whatever it takes to meet the requirements of the IMF so that we can get the package. Otherwise, our economy risks collapsing. We cannot afford to miss out on the package at this time. We need to recover our economy,” he said.
Meanwhile, Mr Banda said that Government was now making harsh decisions such as increasing the electricity tariffs because it had noticed that the economy risked collapsing.
He said that Government was ready to do away with subsidies and that people just had to sacrifice for the sake of the nation.
Mr Banda said the sole purpose of the drastic measures Government was now taking was to make sure it reduced on spending as requested by the IMF.
He pointed out that Government currently had no money to finance many projects or to subsidise electricity.
Mr Banda, however, said that the only way to save the economy from collapsing was by ensuring that the country met the requirements of the IMF.
He noted that some of the IMF demands might not be favorable for the country but that it was a bitter pill to swallow for the sake of economic recovery.
Mr Banda advised Government to make sure it met the demands of the IMF so that it could get the package and help restore the economy.
