President Hichilema To Meet With IMF And World Bank Heads While In U.S.

President Hakainde Hichilema will meet with the heads of the World Bank and International Monetary Fund (IMF) during his visit to the United States this week for the United Nations General Assembly in New York. 

Foreign Affairs Minister Stanly Kakubo has confirmed that the president will meet with the international lenders to discuss his government’s vision for restoring Zambia’s economy as well as promoting trade and investment.

President Hichilema has previously indicated that his government is keen to secure an IMF bailout package as a matter of urgency - something which the previous administration, under President Lungu, was unable to negotiate owing to their reluctance to undertake necessary fiscal reforms as well as a lack of transparency around the government’s debts to China.

An IMF bailout will be crucial to HH’s proposed agenda of economic reform as, following the mismanagement of the previous administration, Zambia’s debts currently represent 117.76% of GDP. A bailout package will put the country on surer financial footing but could mean significant reforms to government spending. 

President Hichilema flew to New York on Sunday via a commercial Qatar Airways flight from Lusaka. He was praised for his ‘lean team’ of officials, taking just two other ministers onboard: Finance Minister Situmbeko Musokotwane and Foreign Affairs Minister Stanley Kukubo. 

The president will attend the General Assembly until Saturday, as well as undertaking other high profile meetings, including with the US Chamber of Commerce and the Africa Business Centre. He is also expected to meet with UN Secretary General Antonio Guterres and European Council President Charles Micho.

On Friday, President Hichilema will travel to Washington DC, where he is scheduled to meet with US Vice President Kamala Harris. This is the first time in over two decades that a sitting Zambian president will meet with the top leadership of the United States.