CSPR urges govt to focus on debt management

CSRP Executive Director Patrick Nshindano

The Civil Society for Poverty Reduction (CSPR) says the failure by the International Monetary Fund (IMF) to give the Zambian Government a financial bailout could be as a result of failure by the two parties to agree on conditions.

The International Monetary Fund has again failed to approve an economic recovery programme for Zambia.

CSPR Executive Director Patrick Nshindano says the fund is there to come to the aid of countries in economic challenges, the reason why he feels that the two parties failed to agree on conditions.

Mr. Nshindano has told QTV News that this entails that there has been a deadlock between the government and the IMF in agreeing on how the process will go including some of the benchmarks that the fund is setting for the country to access the loan.

He has also noted that the destination and economic recovery of Zambia’s economy lies in the hands of the government by reducing on wasteful expenditure on non-priority programs.

Mr Nshindano says the government should for now focus on debt management as this is key to economic growth.