By KALOBWE BWALYA
GOVERNMENT should be wary of torturous IMF conditions and not rush into signing a deal with the institution, an Economist Yusuf Dodia has said.
Mr Dodia said the IMF programme appeared good on paper, when in reality it was torturous to some countries.
He said every IMF programme needed to be looked at with a pinch of salt and not to rush into signing an agreement.
Mr Dodia urged Government to be very careful with the IMF package because in many cases the fund does not understand the dynamics of Zambia’s economy.
He said it was for this reason that IMF programmes do not yield the desired results because there were conditions which were cumbersome.
Mr Dodia explained that the IMF comes from developed economies and they only understand the developed economy, how it works, but when they come to Zambia they try to cut and paste and that can never work.
In an interview, Mr Dodia said Zambia had its own unique challenges that anybody who wants to assist need to understand what the country is facing.
He said the people that are coming from IMF and World Bank, are people who do not understand the challenges that the country faces, therefore they only intend to offer solutions that are generally not in the best interest of the wider majority.
