PF Couldn’t Secure IMF Deal in 7 Years, Says HH

President Hakainde Hichilema has said that the approval of the International Monetary Fund (IMF) finance program for Zambia is a testament to his UPND administration’s credentials to restore the economy.

The President added that his administration has managed to secure a groundbreaking deal within two months, whilst the PF administration failed to strike the same deal over seven years in power

HH chalks this up to the PF having a lack of credibility, in contrast to the UPND.

The UPND was elected on assurances that they would restore the economy by dismantling the country’s debt, and the President said that this deal was important step towards that goal.

President Hichilema delivered this insight upon his arrival back in Lusaka from Malawi where he had gone for bilateral engagements Tuesday morning

And the President was pleased to reveal said he has agreed with his Malawian counterpart Lazarous Chakwela to keep borders open for trade.

He said the two Presidents also talked about the Mwami/Muchinji border, hoping to establish a one-stop border post aimed at enhancing trade.

President Hichilema said he also discussed issues of insecurity in some parts of neighbouring Mozambique and DRC with Dr. Chakwela, in his capacity as Southern African Development Community Chairperson.

He expressed concern that failure to address the insecurities in said countries may have a knock on affect on peace and prosperity in Zambia and Malawi.

Meanwhile, Finance and National Planning Minister Situmbeko Musokotwane has encouraged Zambians not to be fearful of the economic programme that has been reached between the government and the International Monetary Fund -IMF.

Dr. Musokotwane says that the staff agreement reached with the IMF will deliver a better quality of life for the average citizen.

The Finance Minister delivered a ministerial statement in parliament on Tuesday, adding that the UPND Administration is of the view that spending government money on the youth and education is a worthier and a more sustainably beneficial decision than investing in fuel subsidies. 

Dr. Musokotwane further said the policy will enable the government hire thirty-thousand teachers, eliminate tuition fees for secondary schools and bring back the meal allowances for college and university students that had been abolished by the previous PF government.