IMF Deal A Chance To Grow Zambia’s Economy – Nalumango

Speaking to a crowd in Kabushi , Vice President, Mutale Nalumango, has praised the country’s upcoming deal with the International Monetary Fund (IMF) as a chance to grow the economy. Restructuring the debt inherited from the Lungu administration is viewed as crucial to unlocking the potential of the Zambian economy.  

In particular, Nalumango highlighted how additional schools will be constructed and how Zambians will experience greater availability of drugs in hospitals. The United Party for National Development (UPND) plans to build a further 15 schools along the Copperbelt. 

Last week the IMF approved a $1.3 billion extended credit facility for Zambia, aimed at restoring macroeconomic stability and fostering more inclusive growth. Getting a deal over the line was a key promise of the UPND’s manifesto in the 2021 general elections. The interest-free loan will free up government funding that had previously been used to service the country’s debts but can instead be spent on infrastructure and public services.

The Vice President’s comments come ahead of a by-election in Kabushi Constituency, in which the UPND hopes to displace the Patriotic Front after the party’s MP Bowman Lusambo had his seat nullified.

Speaking to a rally at Kaloko Primary School, Nalumango expressed her regret that Kabushi remained amongst the less developed constituencies in the Ndola district and assured the crowd that the Government will work to mitigate the health risks posed by free-flowing sewers in the area.

Speaking at the event, Sylvia Masebo, Health Minister and UPND mobilisation chairperson, was critical of the outgoing Lusambo and urged voters to support the strong leadership of UPND candidate Bernard Kanengo. Similarly, UPND chairperson for elections Gary Nkombo encouraged constituents to vote for Kanengo for better development.