By Chileshe Mwango
Finance Minister Situmbeko Musokotwane says government is firmly on track to ensure plans regarding debt relief and attainment of the International Monetary Fund-IMF- program becomes a reality without fail, contrary to assertions that the deal has collapsed.
Dr. Musokotwane says government has remained in constant touch with the IMF so that it reaches the full board economic program by mid this year saying the path the country has taken to get into an economic program with the IMF is the only credible route to arrest the high debt situation.
In a ministerial statement in parliament today, Dr. Musokotwane has emphasized that the resolution of Zambia’s crippling debt situation is paramount to reviving the economy.
Meanwhile, Dr. Musokotwane has disclosed that government has continued to work with its advisors in engaging with and encouraging Zambia’s commercial creditors to organize themselves in preparation for the debt restructuring discussions.
Dr. Musokotwane is hopeful that progress towards the approval of the contemplated IMF programme, cooperating partners will continue to come on board and provide support through the budget, especially for priority human development sectors such as health and education.
After many years of Zambia attempting to access the IMF program, recently the country managed to reach an agreement with the IMF in December 2021 and is broadly based on Zambia’s reform agenda.