Q FM Africa's Modern Radio
The Fight Against Inequality Alliance (FIA) has urged the New Dawn Government to seek other alternatives to economic recovery other than the International Monetary Fund (IMF) programme.
Following the government’s announcement of the IMF Staff Level Agreement, FIA which is a movement uniting a wide range of rural groups, CSOs, activists, women and youth groups to fight inequality in the country recently conducted a research to determine the potential impact of the IMF loan on poverty, inequality and Zambia’s future.
The research has revealed the IMF/Zambia deal will subject the country and citizens to serious austerity measures over the next 5-years with government expenditure contracting by about 4 billion United States dollars a situation which will affect the already suffering citizens.
Speaking during the launch of the “Options for Equitable Economic Growth and Development in Zambia report”, Economist Grieve Chelwa has recommended that the New Dawn Government considers pursuing other financing options such as rolling over, restructuring, re-profiling, refinancing and repurchasing of the debt.
Mr Chelwa who has described the IMF process as not transparent, also recommends for extensive engagement and consultations among stakeholders with regards the way forward.
Speaking earlier, FIA Global Convenor, Jenny Ricks has warned that the Zambian government risks a people uprising in protest to the hardships they will be subjected to through austerity measures.
Meanwhile Daisy Mwilima who is the FIA National Coordinator says it is important that the Zambian government does not take a route that will be detrimental to the majority poor Zambians and subject them to extreme poverty levels.