Q FM Africa's Modern Radio
Action Aid Zambia has expressed concern over the implications the delayed IMF programme will have on the 2022 national budget and ultimately the state of the economy.
Finance Minister Situmbeko Musokotwane today said he has no apology to make for failing to deliver an IMF program this monthend as earlier promised.
In a statement, Action Aid Zambia Country Director Nalucha Ziba notes that the expansionary annual budget was heavily dependent on external and domestic financing, wondering where the government will source the necessary funds for budget execution.
Ms Ziba says the lack of funding will hamper the ambitions pronouncements such as the recruitment of teachers, free education and improving the health sector.
She adds that the high external debt servicing cost considering the Eurobond bullet payment due later this year have adverse effects on microeconomic stability.