Govt, IMF virtual talks commence

BUUMBA CHIMBULU writes

@SunZambian

GOVERNMENT will today start virtual discussions with the International Monetary Fund (IMF) on a programme under the Extended Credit Facility (ECF).

This will be handled by the Ministry of Finance and National Planning, led by the minister, Dr Situmbeko Musokotwane, while the IMF staff delegation will be led by Allison Holland.

Secretary to the  Treasury, Felix Nkulukusa, said government was committed to fostereconomic recovery and restore debt sustainability as part of its plan to  build a more  resilient and productive economy to create jobs, drive innovation, and protect livelihoods.

Mr Nkulukusa in a statement said the aim of the discussions with the IMF was to achieve a staff level agreement that outlines an agreed policy reform package.

He said it was also aimed at  reaching a related medium-term macro-fiscal framework that, together with a debt restructuring package, would restore fiscal and debt sustainability, boost inclusive growth, and strengthen economic governance.

Mr Nkulukusa indicated that at an earlier event, Dr Musokotwane took the opportunity to lay out broad measures which the government would be taking to restore economic growth and fiscal sustainability.

“We take this opportunity to notify stakeholders that Zambia’s latest debt figures, including  a detailed creditor-by-creditor breakdown, can be accessed on the ministry’s website,” he said.