IMF commences staff visit to Zambia

A five-member delegation from the International Monetary Fund (IMF) is in Zambia to exchange information with authorities on the policies that the government was undertaking in dealing with the economy, a finance ministry spokesperson said on Thursday.

The delegation intends to hold discussions with government on measures being taken in dealing with fiscal challenges, the public debt, and other macro-economic policy issues aimed at stabilization and growth of the economy, finance ministry spokesperson Chileshe Kandeta said.

The team, which is led by Dan Gura, on Wednesday held talks with Finance Minister Bwalya Ng'andu who told the delegation on the macro-economic environment, the electricity situation, public debt management and up-scaled domestic resource mobilization drive the government has embarked on, the spokesperson added.

The Zambian finance minister told the delegation of government's commitment to stabilize the macro-economic environment and achieve sustained economic growth and that the government has adopted a sequenced and prioritization approach in the implementation of development projects to ensure that there was no further debt-induced fiscal stress.

The government, he said, was aware of its responsibility to create suitable conditions for closer future development cooperation with the IMF.

Zambia is determined to sail over the tide of the rent fiscal slippages to ensure that the nation's development goals and objectives are attained, he added.

On his part, the IMF delegation leader said his team will have data and information exchange sessions with the government, the central bank, revenue collection agency and other players in the economy.