Former Minister Chikwana states the "Decline in Zambia’s reserves is worrying, the Government should turn to the IMF"

The former Minister of Finance, Alexander Chikwana has said that he has found the decline in Zambia’s reserves rather worrying, and that all responsible citizens should urge the government to take the tough decision to bring the IMF on board, a delay which could affect Zambia’s economy’s resilience. 

In an address where he covered a wide range of issues from patriotism, the constitution, the untapped youth potential and agriculture, Chikwana was very clear about his dislike for the IMF, but stated that the program with the IMF gets a diversity of investors on board, which he described as the “ugly reality” of what he described as a “lop-sided world”. 

“I Have in the past noted that the IMF is now less theological. The institution cannot depart from the ingrained habit of coming with a pre-ordained script from Washington DC,” he stated. 

“With pain, I admit that the IMF’s concerns about borrowing are plausible. The decline in our reserves is rather worrying so let us all..urge out government to take the tough medicine - delay could affect the economy’s resilience. A program with the IMF gets a diversity of investors on board. This is the ugly reality of our lopsided world.”