By 
Zambia would be in a difficult situation to effectively manage its economic affairs if the debt negotiations were not concluded by the end of the first quarter of this year.
This is according to President Hakainde Hichilema who spoke at State House in Lusaka on Monday when the visiting IMF Managing Director Kristalina Georgieva paid a courtesy call on him.
Hichilema acknowledged that the delay was also affecting investor confidence in Zambia.
Read more: IMF helping Zambia resolve its $13.4 billion debt challenge —Georgieva
He, therefore, called for Zambia’s debt restructuring negotiations to be concluded urgently because the country risked backtracking on the progress it had made in restoring economic fundamentals.
Picture courtesy of State House media
“If the negotiations are not concluded by the end of the first quarter of this year, the country will be in a difficult situation to effectively manage its economic affairs,” he said.
Hichilema also urged Zambians to avoid peddling the perception that the IMF was a foreign entity which was bent on destroying third world economies.
He said the IMF was on the contrary, a global institution owned by member countries including Zambia.
Georgieva said the Fund was impressed with the manner Zambia was managing public resources.
Zambia, she said, was putting public money to good use by investing in areas such as Education and Social Protection.
“The Fund is also happy with the economic reforms that Zambia has embarked on,” Georgieva said.
The IMF Chief stated that she understood that reforms could sometimes be painful but ultimately lead to stronger and vibrant economies.
First published on ZNBC: IMF CHIEF IMPRESSED WITH ZAMBIA
Comments