IMF WARNS OF INFLATION RISKS AS OIL PRICES RISE
The International Monetary Fund (IMF) has warned that rising global oil prices and geopolitical tensions could fuel inflation and pressure Zambia’s exchange rate.
The Fund said domestic price adjustments reflecting higher international oil costs could help protect fuel tax revenues, while maintaining policy discipline and building economic buffers remains vital.
The IMF highlighted Zambia’s progress in fiscal discipline and debt restructuring, which is helping stabilize the economy.
Recovery in mining and agriculture, improvements in electricity generation, and structural reforms support a cautiously optimistic outlook.
Zambia is also exploring a successor programme with the IMF. An IMF team led by Edward Gemayel recently held talks with President Hakainde Hichilema, Finance Minister Dr. Situmbeko Musokotwane, and Bank of Zambia Governor Denny Kalyalya, with preliminary discussions expected from April and full policy talks after the elections.
Africa needs to exploit oil fields within the continent for our industrial purpose. This monopoly supply chain is not sustainable. It is counter productive.
African States need to start heading this direction immediately.