Daily News Round-Up- 20.06.22

CHINA ASKS IMF TO SPEED UP ECONOMIC RECOVERY PACKAGE TO ZAMBIA

The Chinese government has called on the International Monetary Fund (IMF) to speed up a $1.4 billion Economic Recovery Package to assist Zambia’s economic recovery.

Wu Peng, China’s Department of African Affairs Director-General, outlined that the financial assistance will ease pressure on the economy and help Zambia to invest in more productive sectors.

He said that China will help coordinate Zambia’s debt situation.

WORLD BANK TO PROVIDE $275 MILLION TO ZAMBIA IN NEXT THREE YEARS.

Photo: Lusaka Times

The World Bank has outlined plans to provide $275 million after the funds were approved by the IMF Board.

The funding is supported by the IMF Supported Package Programme.

The Bank has outlined plans to provide roughly $959 million to Zambia with $294 million of this being committed to social cash transfers and projects to strengthen their COVID-19 responses.

PRESIDENT HICHILEMA OPENS SITTING OF THE HOUSE OF CHIEFS

Photo: Lusaka Times

President Hakainde Hichilema will open the sixth sitting of the House of Chiefs tomorrow.

The conference will take place tomorrow at 14:30 at Mulungushi International Conference Centre.

The meeting represents a step forward in the New Dawn government’s commitment to maintaining good relations with traditional leaders.