Emmanuel Mwamba writes:
Multiple sources are confirming that the much celebrated impending IMF bail-out is dead, a still born.
Following a recent review of the Staff Level Agreement and Extended Credit Facility of $1.4 billion that was announced on 3rd December,2021 between Zambia and the International Monetary Fund (IMF) concerns have been raised on the lack of fiscal discipline, failure to effect measures that would raise sufficient domestic resources, human rights abuses, unilateral arrests and suspected use of torture in investigations.
President Hakainde Hichilema’s economic recovery plan, attracting foreign investment and treatment of foreign debt is anchored on a succesful IMF programme.
This will spell disaster if the programme is brought in dead (BID).