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Govt, IMF ponder next move

 

 

Government has held talks with the International Monetary Fund -IMF- to discuss the way forward following the completion of the Article 4 review by the IMF Board.

 

The meeting was held on the side-lines of the IMF- World Bank Annual Meetings in Washington DC.

 

Minister of Finance Felix Mutati led the Zambian delegation to Washington, DC.

 

Government and the IMF team are in agreement with the outcome of the consultations, particularly concerns raised with respect to the rising debt risks and the recommendations made on fiscal consolidation and the need to lower debt risks.

 

The two sides also discussed the need to re-define Zambia’s borrowing plans going forward in view of the risks associated with high levels of debt and the need to continue fiscal consolidation as well as re-assessment of the priorities of the 2018 budget.

 

And Mr. Mutati said data on recent developments in the economy will include the 2018 budget and borrowing plans will be provided.

 

IMF Director Africa Department Abebe Selassie and newly appointed Mission Chief to Zambia Bileau Loko will soon conduct a short outreach mission to Zambia to meet the country’s authorities to discuss recent economic developments and policies.

 

This is contained in a statement issued to ZNBC news by Ministry of Finance Permanent Secretary Economic Management, Mukuli Chikuba.

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