Govt, IMF in agreement

Secretary to Treasury Fredson Yamba – Pic by Albert Mpezeni

Secretary to the Treasury Fredson Yamba says the government and the International Monetary Fund (IMF) Mission Team are in agreement with regards the objective policies and structural reforms outlined in the economic stabilization and growth programme.

And Mr Yamba has dismissed claims that the IMF is arm twisting the Zambian Government on the economic recovery plan.

Briefing journalists this afternoon after the end of an IMF Mission team to Zambia, Mr. Yamba says during the discussion, the government indicated that it has developed appropriate policy and structural reforms needed to restore macroeconomic stability which is critical for sustainable higher and inclusive growth.

He says government has highlighted the recent economic developments with focus on challenges and possible remedial measures.

Mr. Yamba says government has furthermore highlighted that fiscal performance has been the major challenge, with the government expenditure being higher than the budget over the past few years.

Mr. Yamba has also highlighted some of the key messages in the programme that include government’s intentions to reduce the overall budget deficit, phased clearance of arrears, removal of subsidies in a phased manner and enhancing growth prospects among others.

IMF Mission to Zambia Team Leader Tsidi Tsikata – Pic by Albert Mpezeni

Speaking at the same briefing, IMF Mission to Zambia Team Leader, Tsidi Tsikata says the IMF Team has had fruitful discussions with the Zambian Government and has made progress towards reaching understanding on an economic program that could be supported by an IMF arrangement.

Mr. Tsikata says both parties have agreed to continue discussions at the forthcoming Spring Meetings of the IMF and World Bank in Washington DC next month.

The IMF team has been in the country since 9^th March, 2017 for discussions with the government, Members of Parliament, Civil Society Organizations, Trade Unions, Private Sector and Cooperating Partners.